ASX:LNW.AX 12 January 2026

May 22, 2026, 10:20 PM EDT. Alphabet (GOOGL) shares have risen roughly 23% year-to-date, outperforming the S&P 500's 9%. Bank of America analysts updated their forecast after Google's recent I/O conference unveiled multiple AI advancements, including Gemini 3.5 models, a personal AI agent, and intelligent shopping features. The bank highlighted Google's leadership in consumer AI experiences and potential cost and speed advantages from new AI models. Google's expanding AI user base, with 2.5 billion engaging with AI Overviews, signals strong adoption. However, Bank of America cautioned that high expectations mean any lack of spectacular announcements could pressure the stock. Alphabet is leveraging AI to enhance search and cloud services, investing up to $40 billion in AI startups, while growing its role in classified Pentagon AI projects.