Alphabet Launches TurboQuant AI Tech; Wells Fargo Raises Price Target to $397
Alphabet unveiled TurboQuant AI compression technology to cut memory usage in large models and enhance data-center efficiency. Wells Fargo increased its price target on Alphabet shares by $10 to $397 and maintained an Overweight rating.
1. Alphabet Introduces TurboQuant AI Compression Technology
Alphabet’s new TurboQuant feature is designed to reduce memory requirements for large-scale AI models, improving inference speeds and cutting data-center costs. The technology targets more efficient model deployment across Alphabet’s cloud infrastructure and could strengthen its competitive position in AI services.
2. Wells Fargo Raises Price Target on Alphabet Shares
Wells Fargo analysts raised their 12-month price target for Alphabet from $387 to $397 and reaffirmed an Overweight rating. The upgrade reflects expectations that recent AI innovations and strong cloud revenue growth will support margin expansion and long-term shareholder value.