It looked like (NASDAQ: GOOG) (NASDAQ: GOOGL) was going to fall behind in the artificial intelligence (AI) race thanks to the botched launch of the company's Bard chatbot earlier this year.

Alphabet's chatbot made a factual error in the promotional video during its launch event in February. It was a mistake that wiped off $100 billion of the company's market cap. However, the tech giant has made a remarkable recovery since it made a slew of AI-related announcements at the Google I/O event on May 10.

Bloomberg points out that Alphabet's market cap has jumped $115 billion since the event, thanks to a 9% increase in the company's stock price. The stock is now up 35% so far in 2023. Investors, however, are still getting a good deal on Alphabet stock, and they may want to buy it before AI supercharges the company's growth and leads to more upside.

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Source Fool.com