Google's search engine AI rebuild to help fend off threat from Bing- Evercore

GPT

18/04/2023 12:35

** Evercore ISI says it believes Google-parent Alphabet Inc 
 GOOGL.O  will rebuild its search engine to include artificial
intelligence (AI) responses to keep its search market and
profitable unit economics intact
    ** GOOGL fell 2.7% on Monday, while Microsoft Corp  MSFT.O 
closed nearly 1% higher after New York Times reported Samsung
Electronics Co  005930.KS  was considering changing default
search engine from Google to Bing on its devices
    ** Google's Bard provides faster responses than
GPT-4-enabled chatbots, however, GPT-4 provides more robust
answers than Bard - Evercore ISI
    ** Google is likely to be successful as it has larger search
data and vast capital pools, brokerage says
    ** GOOGL and MSFT gain 0.5% in premarket trading
    ** Up to Monday's close, GOOGL and MSFT had gained ~20%
compared with a ~16% increase in the Nasdaq Composite Index
 .IXIC  YTD

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com;))