The Financial Post reports in its Friday edition that Alphabet just got a reminder of how important the perception of having a winning AI strategy is for investors. The Post's Ryan Vlastelica writes that the Google owner added $87-billion (U.S.) in market value in a single day last week after showing off the capabilities of its Gemini large language model, which it claims can rival OpenAI's ChatGPT. To sustain those gains, Alphabet needs to show investors how prowess in that artificial intelligence technology will translate into higher sales. "If they can nail multimodal generative AI, that will draw usage to Google, and that increased usage will protect and grow the search business," said Gene Munster at Deepwater Asset Management LLC. Alphabet has been dogged all year by concerns it has fallen behind Microsoft in the AI race. Microsoft has been integrating ChatGPT technology into its software and cloud products. The Gemini demonstration even drew criticism from employees saying it appeared to overstate the model's capabilities. The third-quarter earnings season seemed to underscore fears about Alphabet's position, with Microsoft touting AI's increasing impact on Azure growth while Google Cloud results disappointed.