Google Slips in Pre-Market on Rumors of Apple-OpenAI Deal

Google's parent company Alphabet (GOOGL) shares fell in the pre-market today due to the news that Apple is almost in a deal with OpenAI to put its ChatGPT technology into iPhones.

Google Slips in Pre-Market on Rumors of Apple-OpenAI Deal

The news, first reported by Bloomberg and StreetInsider also posted on X, was like a cold breeze in the tech world. Apple's utilization of OpenAI's chatbot technology may be a serious challenge to Google's supremacy in the AI field, especially its own conversational AI, Gemini. 

"This is a revolutionary development," Daniel Ives, a Wedbush analyst, said. Ives, an "Outperform" analyst on Apple stock, thinks that the deal is proof that Apple is really determined to create a strong AI base for its devices. 

Although Google has reportedly also talked to OpenAI, the absence of an announced partnership has investors worried. Social media is flooded with talk about the possible fall of Google, with many referring to the Apple-ChatGPT rumors as a reason for worry.  

OpenAI is supposed to announce some changes in its technology soon, thus, it will be the reason of more and more controversies. Investors will be very much interested in the developments of these issues and their outcome in the AI supremacy war.