Samsung's Potential Switch to Bing Causes Alphabet Stock to Drop.
TL;DR Summary
Shares of Alphabet Inc fell over 4% in premarket trading after a report that Samsung Electronics was considering replacing Google with Microsoft-owned Bing as the default search engine on its devices. Google earns an estimated $3 billion in annual revenue from the Samsung contract, and another $20 billion is tied to a similar Apple contract that will be up for renewal this year. Google is reportedly racing to build an all-new AI-powered search engine that would offer a more personalized experience than its current service, which is also set to be upgraded with AI features.
- Alphabet falls on report Samsung considering Bing as default search engine Yahoo Finance
- Google Devising Radical Search Changes to Beat Back A.I. Rivals The New York Times
- Alphabet Stock Falls on Concern About AI Threat to Google's Position in Search The Wall Street Journal
- Google engineers went into a ‘panic’ as Samsung reportedly considered ditching its search engine for Bing Yahoo Finance
- Alphabet falls as Samsung mulls switching to Bing By Investing.com Investing.com
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