Investors were delighted with Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) stock this morning after a report that the company was in talks with Apple (NASDAQ: AAPL) to make its Gemini AI chatbot available on the iPhone.

Although talks are ongoing and no deal has been announced, the report led to a surge in Alphabet shares on Monday as investors seemed to believe it was a sign that the company was overcoming the negative publicity and other challenges that have been associated with its AI technology thus far. As of noon ET today, the stock had gained as much as 7.8%, approaching an all-time high, while Apple was up as much as 3%.

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Source Fool.com