OpenAI's AI Search Product Poses Threat to Google Dominance, Causes Alphabet Stock to Slip
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OpenAI is reportedly planning to launch a search product that could challenge Google's dominance in the search market, built on Microsoft's Bing engine.
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This caused Alphabet's share price to slip around 2.5% on Thursday.
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An OpenAI search engine could cut into Google's 90% search market share.
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However, Google has its own advanced AI called Gemini 1.5 and will remain competitive.
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Wall Street analysts rate Alphabet stock as a Strong Buy with an average price target implying 15.66% upside potential.