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Actionable news in GOOGL: GOOGLE Inc CLASS A,

One Reason Alphabet (GOOGL) Stock is Declining Today

NEW YORK (TheStreet) -- Alphabet (GOOGL - Get Report) stock is decreasing by 3.23% to $677.32 in afternoon trading on Tuesday, after its subsidiary, Google, invested in a Chinese startup, making it the first investment in the country since 2010, Bloomberg reports.

Google will lead an investment round for Mobvoi, a developer of artificial intelligence that operates a Chinese voice-activated search engine.

The company is now valued at $300 million, sources told Bloomberg.

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"Mobvoi is very excited to welcome Google as an investor as both companies share a long-term view on technologies," Mobvoi co-founder Li Zhifei said in a statement, Bloomberg noted.

Mobvoi plans to use the investments to increase its staff, research smart-car technologies and boost its artificial intelligence programs, Bloomberg added.

Google exited the Chinese market in 2010 because it refused to self-censor content. Users in the...


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