Video Game Stocks Fall After Google Announces AI World-Generation Tool
By
Jay Peters
Slow-proofed and worth the wait. Worth its weight in flour.
Summary
Video game company stocks including Take-Two Interactive, Roblox, and Unity experienced significant declines following Google's announcement of Project Genie, an AI tool that generates interactive experiences. The stock drops ranged from 7.93% to 24.22%, with investors apparently concerned about potential disruption from AI-generated content tools in the gaming industry. The article also notes broader concerns about AI tools facing pushback from artists and creators over training data issues.
Key quotes
· 3 pulledTake-Two's stock price closed at $220.30 (down 7.93 percent from yesterday)
Roblox's closed at $65.76 (down 13.17 percent), and Unity's closed at $29.10 (down 24.22 percent)
Other AI tools have received significant pushback from artists and creators over allegations of theft of their work to train the underlying AI models
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