source instagram
“Google’s parent company, Alphabet, took a hit in the stock market on Wednesday after news broke that Apple might be shaking things up. An Apple exec reportedly hinted that the iPhone maker is thinking about adding AI-powered search tools to Safari—tools that could one day replace traditional search engines like Google.”
“Alphabet’s stock is down 9% in recent trading—and it’s already lost about 20% of its value since the start of the year.”
“According to Bloomberg, Apple’s senior VP of services, Eddy Cue, testified on Wednesday during the DOJ’s lawsuit against Alphabet, saying that Safari searches actually dipped last month for the first time—something he blamed on the growing use of AI.”
“Cue also mentioned that Apple’s been chatting with Perplexity AI about bringing AI-powered search to Safari—and they think it could eventually outshine traditional search engines like Google. According to the report, Apple’s also had talks with big AI names like Anthropic and Open AI, the creators of Chat GPT.”
“A move like this could hurt Apple’s bottom line too—something Eddy Cue admitted has kept him up at night. Google reportedly pays Apple around $20 billion a year just to stay the default search engine on Safari, and Apple also gets a slice of Google’s ad revenue from those searches. No surprise then that Apple’s stock dipped about 2% in recent trading.”
