Alphabet Loses $55 Billion: Its market value on Thursday as reports surged in the search market. According to the NYT, Samsung may use Microsoft’s Bing as the default search engine on its smartphones instead of Google.
Shares of Alphabet dropped 4% on Thursday after the New York Times reported that competition in the mobile search market, which has a market value of about, is fierce. According to sources, Samsung has considered convincing Microsoft to use it.
Alphabet Loses $55 Billion
In March, Google employees were shocked to learn that Samsung planned to replace Google, and a New York Times investigation of internal messages from Alphabet employees revealed “fear” among employees.
Google is facing a high level of search competition for the first time in years after Microsoft added OpenAI’s ChatGPT to Bing search results earlier this year.
Google has long dominated the search market, with a market share of 90%. Alphabet is also working hard to protect its market share, with a team of more than 160 people integrating the power of personal data into the Google search engine, according to the report.
Alphabet Loses $55 Billion in Market
But the report shows how much is at stake for Alphabet to protect its market share in search, while ChatGPT has a lot to catch up on in the emerging AI search market. Bard is the first product of Google’s answer to ChatGPT.But if Samsung is planning to make Bing a native search engine for its millions of devices that ship each year, that may not be enough.
Value after Samsung Reportedly
Samsung has a long relationship with Alphabet and Microsoft, where they put different software from both companies on their devices, and talks between Samsung and Microsoft, where Google is the main service provider, haven’t ended. . . . .Google’s Bing search engine is the main search engine for its devices, which could threaten Alphabet’s $3 billion in revenue.