Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) showed that it's going all in on artificial intelligence (AI), unveiling new AI features and products at its Google I/O developer conference on May 14. The company has long invested in AI, but there have been some lingering doubts among investors that it is behind and that AI could disrupt its dominant position in search. This can be seen in the company's valuation, which trails other leading large-cap AI names.

GOOGL P/E Ratio (Forward) data by YCharts.

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Source Fool.com