Gaming companies saw share prices plummet this week after Google rolled out Project Genie 3, an AI tool that lets users…
Gaming companies saw share prices plummet this week after Google rolled out Project Genie 3, an AI tool that lets users generate virtual worlds in 60-second bursts from text prompts.
Companies like Take-Two, CD Projekt, Unity, and even Roblox saw between 8-20 percent wiped off the value of their companies as spooked investors seemingly went into the weekend thinking tech like this could replace the game development process. Which it can’t, of course (not yet, anyway).
As Bloomberg’s Jason Schreier wrote on BlueSky, «Gaming stocks are dropping today after Google’s rollout of Project Genie, an AI tool that lets users create and explore virtual worlds for 60 seconds. This is the result of a market that does not understand how video games are made.
«To be clear, this is not a referendum on the quality of AI content», he added.
