Around $60 billion was wiped from Google parent Alphabet Inc (NASDAQ:GOOG) after OpenAI said it was enhancing ChatGPT to include real-time information in a direct challenge to the search giant.
The new feature, currently being tested by a limited number of US users, allows ChatGPT to provide up-to-date responses and links. This tool is expected to be fully integrated into ChatGPT.
OpenAI, supported by Microsoft, has introduced various tools for coding, video creation, data analysis, and image generation. The company said the new search feature will streamline web searches by providing conversational, relevant results.
Chatbots are seen as the future of search, posing a challenge to Google, which dominates over 90% of the global market.
In the wake of the update, Alphabet shares fell 2.99% to $169.16.