🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

Google stock slips on Apple-ChatGPT rumors; OpenAI to reveal updates

Published 05/13/2024, 06:27 AM
Updated 05/13/2024, 06:29 AM
© Reuters.  Google stock slips on Apple-ChatGPT rumors; OpenAI to reveal updates

Shares in Google owner Alphabet (NASDAQ:GOOGL) slipped in Monday premarket on reports that Apple (NASDAQ:AAPL) is nearing a deal to integrate OpenAI's technology into the iPhone, aiming to equip its devices with artificial intelligence features.

According to Bloomberg News, the company is in the final stages of negotiating an agreement to incorporate ChatGPT functionalities into iOS 18, Apple's upcoming iPhone operating system.

Previously, Apple has also been reported to have engaged in talks with Alphabet Inc.'s Google to license its Gemini chatbot, though these discussions have not yet resulted in a deal.

The potential partnership with OpenAI could allow Apple to include a widely used chatbot in a series of new AI capabilities it plans to unveil next month. Bloomberg previously reported that talks with OpenAI had intensified in April, although it remains uncertain if the deal will be confirmed soon.

Apple is expected to make significant AI-related announcements in June during its annual Worldwide Developers Conference. The iPhone maker intends to operate some of its new AI features through data centers powered by its own processors, as per reports.

Meanwhile, OpenAI, the creator of ChatGPT, is set to announce updates to its leading chatbot and its most advanced AI model, GPT-4, on Monday. "Feels like magic," CEO Sam Altman remarked on X on Friday.

The company has scheduled a livestream conference for May 13 at 10 am PT to "demo some updates to ChatGPT and GPT-4."

Reuters reported last week that Microsoft-backed OpenAI planned to reveal an AI-driven search product one day before Google's I/O developers conference. However, a source familiar with the situation reportedly indicated that the launch of the search product had been postponed, Reuters says.

On Friday, CEO Sam Altman stated on X that the upcoming announcement would be "not gpt-5, not a search engine, but we’ve been hard at work on some new stuff we think people will love! feels like magic to me."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.