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AI has literally vandalized the search engine giant’s dreams of dominating the next frontier in technology. Google’s parent Alphabet’s stocks plummeted following reports of Samsung’s probable switch to Microsoft’s Bing as the default search on its devices. The company’s shares dipped about 4%, losing nearly $57 billion in market value. This comes in the wake of the New York Times report that appeared last week. Google earns nearly $3 billion annually with a Samsung contract, as cited in the NYT report. Google reportedly also has a similar $20 billion contract with Apple. The Alphabet-Apple contract is due for renewal this year.

Alphabet shares fall on report Samsung may dump Google Search for Bing https://t.co/Y84FT0tEJa pic.twitter.com/Sbc3ks9oeC

— Reuters (@Reuters) April 17, 2023

Alphabet shares are on pace for their worst day in over two months following a report indicating the Google parent company is in danger of losing a key multibillion-dollar search engine contract to Microsoft, as the AI rivalry rages on. https://t.co/efzK9mqFCt pic.twitter.com/mVIVQVHaX5

— Forbes (@Forbes) April 17, 2023

Earlier in February, Alphabet lost $100 billion in market value after its botched up unveiling of Bard. The panic and paranoia are here to stay, with more players entering into the fray. So what is Google’s contingency?

See Also: A Bard Start! AI’s Inaccurate Answer In Google’s Ad Costs The Company $100 Billion

While Google has been at the frontier of AI, it didn’t capitalize like OpenAI did with ChatGPT. The Sam Altman company released their chatbot in the wild. It started an AI goldrush that is here to stay, obliviating fads like NFT and Metaverse. Microsoft seized the opportunity and inked a deal with OpenAI, releasing BingChat that took the internet by storm. The move faced a lot of criticisms from the likes of Elon Musk, who was a board member at OpenAI when it was a non-profit. Musk had slammed OpenAI turning into a for-profit venture. BingChat went rogue within days of its release. Its shenanigans led Microsoft to restrain the chatbot. Meanwhile Google went back to the drawing boards with Bard. The tech behemoth is reportedly working on Magi, a personalized AI search engine to take on its rivals like Bing and ChatGPT.

See Also: Google Is Set To Release ‘Magi’ An AI Powered Search Engine To Take On Rivals Like BingChat And ChatGPT

In the meanwhile Microsoft’s shares are up.

Microsoft shares are up 21% since #ChatGPT launched last November, far outpacing Alphabet’s 10% gain. https://t.co/sRWZ5Xz2FX

— Forbes (@Forbes) April 18, 2023

See Also: All The Buzz On Artificial Intelligence

See Also: All The ChatGPT & AI Buzz Here

See Also: All The Buzz On Google Bard Here

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