We're adding this AI giant back to the portfolio, recognizing things have changed (www.cnbc.com)

Jim Cramer’s Investing Club has reentered Alphabet Inc., purchasing 95 shares at approximately $313, which now comprises about 0.76% of their portfolio. Previously hesitant about Alphabet's future due to concerns over its search business being challenged by advanced generative AI models like OpenAI's ChatGPT, the club's renewed interest follows significant developments. The launch of Alphabet's Gemini 3—developed on custom silicon in collaboration with Broadcom—has positioned it as a formidable competitor in the AI landscape, possibly catalyzing new revenue streams through high-demand chips. Moreover, recent judicial rulings have clarified that Alphabet does not need to divest its Chrome browser, securing its relationship with Apple despite competition in AI technology. With the rumor mill suggesting Apple's interest in enhancing Siri using third-party AI capabilities, Google may prove to be a more advantageous partner, thus maintaining its relevance in the burgeoning AI landscape. Cramer has set a price target of $350 for Alphabet, underscoring a potential valuation upside in light of current market dynamics, including the soaring valuation of rivals like OpenAI.