Imitation might be the sincerest form of flattery, but sometimes it isn't very good for a company's stock price. On Monday, some investors must have believed that Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) was playing this game, and they punished the company's shares for it. Both of Alphabet's listed stocks fell on the day by nearly 2%, a steeper tumble than the 0.6% dip in the S&P 500 index.

In Google's official blog, Alphabet took the wraps off a conversational artificial intelligence (AI) service it's been developing, called Bard. The company said Bard is being opened to "trusted testers," in advance of a wider release to the general public.

If this sounds familiar, there's a good reason. Bard is not unlike the hotly popular ChatGPT, the AI-powered chatbot that can generate information or content from a series of prompts made by a user.

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Source Fool.com