Alphabet shares rose 1.4% early Thursday as the company refuted claims that artificial intelligence is undercutting its search business, according to Barron's. The statement comes after Apple testified in a DOJ antitrust case that iPhone browser searches declined in April due to increased AI usage. Google said overall search queries, including those from Apple devices, continue to grow, driven in part by voice and visual inputs. Apple is exploring partnerships with AI search rivals like OpenAI and Perplexity. J.P. Morgan maintained an Overweight rating on Alphabet, calling the recent stock selloff “overdone.”
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Alphabet shares rose 1.4% early Thursday as the company refuted claims that artificial
00:06intelligence is undercutting its search business, according to Barron's.
00:10The statement comes after Apple testified in the DOJ antitrust case that iPhone browser
00:14searches declined in April due to increased AI usage.
00:18Google said overall search queries, including those from Apple devices, continue to grow,
00:22driven in part by voice and visual inputs.
00:24Apple is exploring partnerships with AI search rivals like OpenAI and Perplexity.
00:28J.P. Morgan maintained an overweight rating on Alphabet, calling the recent stock sell-off
00:32overdone.
00:33For all things money, visit Benzinga.com slash GSTV.