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Alphabet Inc (NASDAQ: GOOGL) just announced plans of putting together two of its research teams working on artificial intelligence to expand more quickly in what has lately been the hottest area within technology.

On Thursday, Google said its combining Brain its internal research team with DeepMind a startup it bought in 2014 to accelerate its AI ambitions.

Still, Malcolm Ethridge of CIC Wealth remains bearish on the stock. Speaking with CNBCs Scott Wapner today, he said:

Market agrees with me. Look at Google share price today. This was, I imagine, meant to be a monumental announcement and the market responded with a big old yawn. So, I am still a seller.

For the year, though, Google shares are up 20% at writing. Also on Thursday, Microsoft integrated the ChatGPT technology into Viva its employee experience platform.

The new division that Alphabet Inc is calling Google DeepMind will operate under the leadership of Demis Hassabis who co-founded DeepMind.

Jeff Dean the Head of Google Research will take on a new role of Chief Scientist. On CNBCs Closing Bell, Ethridge added:

Market is confirming what I was concerned about that Alphabets ultimately going to lose this chatbot war. I just dont see where, as a shareholder in Alphabet, this turns out to be a winning bet in near term.

The news arrives more than two months after Googles Bard failed on its very first day on the job. Earlier this week, Samsung was reported considering switching from Google to Bing as the default search engine on its smartphones (read more).

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CICs Ethridge: Alphabet will lose this chatbot war - Invezz