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17 hours ago
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Source: AFP
Shares successful Google genitor Alphabet plunged much than 7 percent connected Wednesday aft an Apple enforcement told a national tribunal that the hunt engine's postulation fell connected Apple products past month.
Eddy Cue, Apple's elder vice president of services, testified astatine an antitrust proceedings successful Washington that Google hunt measurement was losing postulation to AI alternatives specified arsenic ChatGPT oregon Perplexity, according to US media reports.
"That has ne'er happened successful 20 years," ineligible quality outlet MLex quoted him arsenic saying.
Cue was giving grounds successful a proceedings successful which US Judge Amit Mehta volition find however Google indispensable code his landmark ruling past twelvemonth that it operates an amerciable monopoly successful online search.
The Apple executive's remarks saw Google's marketplace capitalization wiped of $140 cardinal since the adjacent of trading connected Wall Street connected Tuesday.
The marathon tribunal lawsuit has revealed that Google pays Apple tens of billions of dollars each twelvemonth successful a gross sharing statement successful which Google's hunt motor is acceptable arsenic the default connected Apple's Safari browser.
Markets were besides rattled by Cue's remark that "over the coming twelvemonth we volition adhd different (AI) choices to the hunt motor prime successful the browser, due to the fact that I deliberation those products are getting amended and better," helium said, according to MLex.
The grounds backed Google's statement that the emergence of AI has begun a caller epoch successful however people get accusation online, with its hunt motor present facing caller rivalry from AI chatbots.
US authorities attorneys person urged Judge Mehta to unit Google to merchantability disconnected its Chrome browser, arguing that artificial quality volition really lone ramp up the tech giant's online hunt dominance.
Another enactment is that the judge, successful a determination expected successful August, volition bid an extremity to the payouts from Google to Apple and others for the default presumption connected devices.
Cue told the tribunal this would person a important interaction connected Apple's quality to put successful caller products and services.
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Source: AFP
