Report: Samsung may drop Google Search for Bing w/ ChatGPT—Alphabet shares fall

Recently. a report surfaced stating that Samsung was considering replacing Google Search with ChatGPT-boosted Bing as the default search engine for its devices.

Samsung, Bing, ChatGPT logos

Bye Google Search, hello Bing for Samsung?

The result? According to Reuters, the shares of Alphabet, the parent company of Google, fell as much as 4 percent on Monday.

The weekend report of The New York Times underscores the growing challenges of Google's 162 billion-a-year search engine from Bing. Bing, once a minor player has recently gained attention after the integration of ChatGPT artificial intelligence technology.

For decades, Google dominated the search market with over 80 percent share. But, Wall Street fears the company could be falling behind Microsoft in the AI race, a very fast-moving industry.

The report even added claims that Google "panicked" as they earn an estimated USD 3 billion annually from the Samsung contract.

There is also a similar contract with Apple worth USD 20 billion that will be up for renewal this year.

In response, Google said that they are working to bring new AI-powered features to Search.

To read the full report, see the source below.

Source: Reuters