US Stock Market Move | Alphabet Inc. Class C (GOOGL.US) fell more than 5% as concerns about a large-scale price war risk sparked market worries.
On Monday, Google (GOOGL.US) fell more than 5%, closing at $347.57.
On Monday, Alphabet Inc. Class C (GOOGL.US) fell more than 5% to $347.57. In terms of news, on June 22, the founder of a venture capital company that invests in Alphabet Inc. Class C publicly stated that if Alphabet Inc. Class C were to reduce the price of Gemini API Tokens by 80%, the business models of OpenAI and Anthropic would face collapse. The market is concerned that this could trigger a price war leading to zero industry profits.
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US Stock Market Move | AbbVie, Inc. (ABBV.US) rises 6% to acquire Apogee for $10.9 billion.
US Stock Market Move | Novo Nordisk A/S Sponsored ADR Class B (NVO.US) rose by 6% as Semaglutide's market exclusivity in China is extended.
Weak demand combined with operational pressures: Lucid (LCID.US) announced a 18% reduction in its US workforce and the elimination of the COO position.
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