Market Chatter: Alphabet's Google to Invest $75 Million in A24 as Part of AI Partnership
Alphabet's (GOOG, GOOGL) Google is investing about $75 million in independent studio A24 as part of a new partnership to research and develop artificial intelligence tools for film production and distribution, The Wall Street Journal reported Monday, citing people familiar with the situation.The investment marks the first time Google has taken an equity stake in a film studio and the multiyear, nonexclusive deal does not give Google access to A24's film and television library or other proprietary data, the report said.Google and A24 did not immediately respond to' requests for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $348.12, Change: $-19.34, Percent Change: -5.26%