$200,000,000,000 Vaporizes From Google Stock As Apple Begins Exploring AI Search in Safari
Shares to Alphabet Inc. (Goog) will sink strongly amid comments from Apple's tech that suggests that artificial intelligence (AI) will threaten the dominance of the leading search engine.
Apple Service Eddie Cue said he believes AI-run search engines will eventually replace classic search engines such as Google, Bloomberg Report.
Speaking of a testimony during the US Justice Department's lawsuit against Alphabet Inc., Cue said he hopes Apple will use services from Openai, perplexity and anthropic as apple's Safari Browser search options in the future.
“Before AI, my feeling around it was, there was no other right choice … I think now there is a bigger potential because there are new incoming attacks on the problem in a different way.”
Currently, Google pays Apple $ 20 billion a year to be a default search engine in Apple's Safari Browser.
Following Cue's testimony and the subsequent uncertainty of Google's future dominance, the tech giant's stock collapsed, wiping more than $ 200 billion on the market cap.
At the time of writing, Goog dropped 10.4% in the day, currently trading at $ 149.
Cue added that in order to improve AI search engines, they will need better indexing, but even if they can't achieve that, they will probably have the features “better people will move.”
Cue says the switch is referred to from the standard to AI -based search engines,
“There's enough money right now, enough big players, which I don't see how it will happen.”
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