Shares in Google parent Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) moved lower before midday on Tuesday amid internet chatter that OpenAI (OPENAI) (MSFT) will introduce a new AI-powered web browser, which will compete with the world’s most popular search engine, Google Chrome.
Class A and B shares of Alphabet are currently down nearly 3%. Shares fell about 4% at 11:00 am ET.
Exactly at that time, OpenAI posted a short video on social media platform X that it will livestream a presentation at 10:00 am PT, which would be at 1:00 pm ET.
About 21.52M GOOGL shares and 12.76M GOOG shares changed hands by 12:10 pm ET, trailing below their three-month trading volume average.
Chrome has an estimated 3.45B users worldwide as of late 2024/early 2025, according to Google.