How Google Stock Investors Should View the Long-Awaited Gemini 4 Argon Launch

Alphabet (GOOGL) went into the Gemini 4 Argon launch with investors asking a simple question: Can its huge artificial intelligence (AI) spending lead to steady growth? On Sept. 23, GOOGL stock dropped 4% to $337.83 after cheaper models from OpenAI and Anthropic raised concerns that Google’s Gemini products and Google Cloud profits could face price pressure.

The release of Gemini 4 Argon helped Alphabet shares rise 1% on Sept. 30, even as the 10-year Treasury yield stayed near its highest level since 2002. Gemini already has a large user base. As of the end of the second quarter, the app had 950 million monthly active users while its models were handling 22 billion API tokens every minute.