Shares of Unity Software Inc. (U) fell sharply in Friday trading after a new AI announcement from Google raised competitive concerns.
The stock opened at $37.90, down from the previous close of $38.38, and recently traded at $30.20, a decline of $8.18 or 21.32%. The shares have moved between $15.33 and $52.15 over the past 52 weeks.
The drop follows Google's reveal of Project Genie, an experimental AI-powered platform that enables users to create and explore interactive virtual worlds. The development has sparked investor worries about rising competition for established game development platforms like Unity. Google is a subsidiary of Alphabet Inc.
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