One Reason Alphabet (GOOGL) Stock is Declining Today

Reddit Email Print Reprint NEW YORK (TheStreet) — Alphabet (GOOGL – Get Report) stock is decreasing by 3.23% to $677.32 in afternoon trading on Tuesday, after its subsidiary, Google, invested in a Chinese startup, making it the first investment in the country since 2010, Bloomberg reports. Google will lead an investment round for Mobvoi, a developer of artificial intelligence that operates a Chinese voice-activated search engine. The company is now valued at $300 million, sources told Bloomberg. “Mobvoi is very excited to welcome Google as an investor as both companies share a long-term view on technologies,” Mobvoi co-founder Li Zhifei said in a statement, Bloomberg noted. Mobvoi plans to use the investments to increase its staff, research smart-car technologies and boost its artificial intelligence programs, Bloomberg added. Google exited the Chinese…


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