Google stock extends losses as OpenAI reportedly considers developing web browser

Link copied

Google stock extends losses as OpenAI reportedly considers developing web browser

stock :: 2024-11-22 :: source - investing.com

By Vahid Karaahmetovic

Investing.com-- OpenAI, the creator of ChatGPT, is considering developing a web browser to combine with its chatbot and has also signed deals to build search features, the Information reported on Thursday.

OpenAI has spoken to app developers such as Conde Nast, Redfin (NASDAQ:RDFN), Evenbrite and Priceline about the search product, The Information reported, citing people who have seen prototypes or designs of the products.

Developing a web browser could further boost the usage of ChatGPT, which is already one of the most-used artificial intelligence tools in the world. However, OpenAI is nowhere close to launching a browser, The Information report said.

The move could create a major competitor for Google, which commands a major share of the browser and search market. OpenAI recently launched a search engine, called SearchGPT, on a limited scale, and plans to roll out the product on a bigger scale next year.

Shares in Google parent Alphabet Inc Class A (NASDAQ:GOOGL) slipped 0.5% in premarket trading Friday, extending its losses from a day earlier.

The stock fell nearly 5% Thursday after the Department of Justice recommended Google sell its Chrome browser to remedy its allegedly monopolistic practices in the online search engine market.

OpenAI sparked a frenzy over AI with the launch of ChatGPT in late-2022, sparking a mad rush among other tech majors, including Google, to boost their AI offerings.

The company, which is among the world's most valuable startups, has also discussed offering artificial intelligence features on Samsung-made devices, a key business partner of Google, the Information report said.

OpenAI already has a partnership with Apple Inc (NASDAQ:AAPL), under which the iPhone maker's "Apple Intelligence" features on its latest line of devices are powered by OpenAI's technology.

Ambar Warrick contributed to this report.

[Source :: Investing.com]

Should you invest $1,000 in GOOGL right now?

Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks AI – 6 model portfolios powered by AI stock picks with a stellar performance in 2024.

Unlock ProPicks to find out