Samsung's potential switch to Bing causes Alphabet shares to drop.

Alphabet's shares fell by almost 4% after a report suggested that Samsung Electronics was considering replacing Google with Microsoft-owned Bing as the default search engine on its devices. Google earns an estimated $3bn in annual revenue from the Samsung contract, and another $20bn is tied to a similar Apple contract that will be up for renewal this year. Bing has risen in prominence recently after the integration of the artificial intelligence tech behind ChatGPT, posing a real challenge to Google. Google is racing to build an all-new AI-powered search engine that would offer a more personalised experience than its current service.