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OpenAI To Launch Google Search Competitor: Reports
OpenAI, the privately held start-up behind ChatGPT, plans to launch an artificial intelligence-powered search engine aimed at competing against Google.
According to multiple media reports, OpenAI could unveil as early as Monday (May 13) a new search product to compete directly against Alphabet's (GOOG/GOOGL) Google search engine.
Media reports are speculating that OpenAI plans to announce its AI-powered search engine the day before the start of Google's annual I/O conference, where the tech giant is expected to unveil a slew of new AI products, many of them for developers.
The new search product from OpenAI will reportedly be an extension of the ChatGPT chatbot and pull information directly from the Internet with citations.
OpenAI is heavily backed by Microsoft (MSFT), which has poured billions of dollars into the company. It's not clear how the new AI-powered search engine from OpenAI will impact Microsoft Bing.
Previously, OpenAI had integrated ChatGPT and its online search capabilities into Microsoft's Bing search engine for paying subscribers.
For its part, Alphabet has been slowly adding generative AI features to its Google search engine, with plans to develop greater capabilities.
Despite its rapid growth and the hype surrounding AI, ChatGPT has struggled since its launch 18 months ago, providing inaccurate information on occasion and seeing its user base decline.
Alphabet's Class A shares have risen 52% in the last 12 months and currently trade at $169.96 U.S. per share.
Microsoft's stock has increased 32% in the past year and now trades at $412.32 U.S. a share.
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