New Data Shows that ChatGPT Is Impacting Google's (GOOGL) Search Dominance
New data shows that OpenAI's ChatGPT may slowly be taking users away from Google Search. Indeed, at Coatue Management's recent East Meets West conference, the investment firm shared stats from SimilarWeb (SMWB) showing that two years after people start using ChatGPT, they do about 8% fewer Google searches each month. It is worth noting that Alphabet (GOOGL), the parent company of Google, has already admitted that ChatGPT is a real threat.
Confident Investing Starts Here:
Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
In fact, in an antitrust hearing this April, Sissie Hsiao—the former head of Google's Gemini chatbot—said that ChatGPT has already replaced some search queries, especially for homework and math help. While those types of searches don't bring in much advertising money, Hsiao's testimony suggested that the growing popularity of AI tools could lead to larger, long-term threats.
As a result, Google's ad chief, Vidhya Srinivasan, said that losing commercial searches—the kind tied to shopping and ads—is not just a risk, but something that is 'inevitable.' The latest data suggests that this shift is already starting to happen. And that is a big deal because most of Google's revenue comes from ads on its search platform. Meanwhile, OpenAI, which is backed by Microsoft (MSFT), continues to improve ChatGPT and make it even easier to use, which could pull even more users away from Google over time.
Is Google Stock a Good Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on GOOGL stock based on 29 Buys and nine Holds assigned in the past three months. Furthermore, the average GOOGL price target of $199.11 per share implies 14.88% upside potential from current levels.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Tom's Guide
34 minutes ago
- Tom's Guide
Massive 16 billion password data breach LIVE — latest updates, find out if you're affected and how to stay safe
A massive 16 billion login credentials have been exposed in one of the larget data breaches in history, with datasets from Apple, Google, Facebook and more being compromised. A Cybernews report details that records from over 30 databases have been stolen, with each containing up to 3.5 billion passwords from social media and VPN logins to corporate platforms and developer platforms. The recent data breach contains a massive amount of information that can affect billions of online account, as cybercriminals now have access to a mass amount of login credentials. Here are the latest updates on the data breach, how to find out if you're affected and how to stay safe. Currently, nearly all major platforms have been affected by the breach, including Apple accounts (formerly Apple IDs), Gmail, Facebook accounts and GitHub as well as instant messaging platforms like Telegram and both commercial and government platform portals. The data appears to contain URLs, usernames and passwords. However, with the unfathomable size of the data that's been exposed, there's now way to tell how many accounts are currently under threat. The stolen data appears to come from several infostealers, and while the datasets are new, the sheer amount of info could also be from a mix of different datasets from previous breaches, including a database containing 184 million records discovered in May this year. With the 16 billion login credentials now being exposed, it's important to check if your account has been exposed and to stay safe. First, the best way to keep your account secure is to enable two-factor authentication (2FA). This will stop threat actors from easily accessing your online accounts, as a second form of authentication through an app, phone, passcode or a physical USB key will need to be approved by you. If you haven't already, find out how to enable 2FA right now. Second, to find out if your login credentials have been affected, use Have I Been Pwned and check if your email is in the clear. If you have, follow these steps:
Business Insider
40 minutes ago
- Business Insider
Nintendo Switch 2 Thieves Nab Over 2,800 Systems
Nintendo (NTDOF) was the target of a heist that resulted in 2,810 Switch 2 units being stolen from a transport truck. The theft saw the video game consoles removed from a transport truck that was on its way to a GameStop (GME) location, likely a distribution center, in Texas. The theft was reported after the driver realized the consoles were missing at a pre-inspection truck stop. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to local authorities, each of the Switch 2 units that were stolen was worth $500. That means these weren't just normal Switch 2 units, which are priced at $450 each, but rather the versions that come bundled with a digital copy of Mario Kart World. With 2,810 Switch 2 units valued at $500 each stolen in the heist, the thieves walked away with $1,405,000 worth of merchandise. Considering the strong demand for the Switch 2, this will leave some fans disappointed as GameStop's Switch 2 supply in Texas is affected. It also means the thieves will likely be able to easily fence the stolen goods, and probably for much more than their MSRP. Switch 2 Sales Even with this theft, Nintendo still saw plenty of Switch 2 sales after the console's launch earlier this month. The company sold 3.5 million of the units in four days, setting new records. It also expects to sell 15 million units in the first year, with plans to produce up to 20 million units to meet increased demand. Is NTDOF Stock a Buy, Sell, or Hold? Turning to Wall Street, the analysts' consensus rating for Nintendo is Moderate Buy, based on eight Buy, two Hold, and a single Sell rating over the past three months. With that comes an average NTDOF stock price target of $92.21, representing a potential 1.22% upside for the shares.
Yahoo
an hour ago
- Yahoo
Killing the planet with kindness: the worst ChatGPT prompts
It is no secret that ChatGPT is taking over the life of the layman. Whether it's used for writing essays, job applications or emails, or, more concerningly, for providing reassurance to an anxiety riddled brain, its ubiquity is undeniable. Yet equally pervasive is the very fact that every search harms the environment. ChatGPT, which is based on the GPT-3 model, consumes a significant amount of energy during its training and operational phases. The energy consumed in the training of GPT-3 amounted to 1,287 megawatt-hours (MWh), resulting in more than 550 tonnes (t) of CO₂ emissions associated with this process. In addition to the training phase, the operational use of ChatGPT also contributes to energy consumption. A ChatGPT-like application, which is estimated to handle around 11 million requests per hour, produces approximately 12.8t of CO₂ per year. Furthermore, the energy requirements for running AI applications like ChatGPT are expected to increase significantly. Current rack power levels are around 15 kW or less, but as AI demands grow, this could rise to as much as 100 kW in the near future. In summation, the use of ChatGPT has enormous implications for the environment's CO₂ levels. Research has begun into exactly the kind of prompt that takes up the most energy with ChatGPT, and what the most harmful thing you can ask is. In Germany, researchers ran 14 open-source large language models (LLMS) through 1,000 benchmark questions. Measuring the CO₂ emissions from each response. Models which used internal reasoning to 'think' through answers could potentially produce 50 times more emissions that those which responded concisely. Questions related to philosophy or abstract algebra, which required deeper reasoning, produced far more emissions than topics like history, which pertain to more factual things. Models with more parameters given also produced more emissions. However, perhaps most intriguingly, the increase of politeness increases emissions. When users are friendly as say 'please' and 'thank you' to ChatGPT, more words are generated. This means that the model is executed for longer, requiring more power and emitting more emissions. More interestingly, the additional words actually have little impact on how useful or accurate an answer is. However, the impact on the environment is huge. These facts become concerning when we assess how younger generations are increasingly using ChatGPT as a kind of online confidante. Whether it's late-night overthinking, navigating the stresses or school, university and work, or even how to get over a situationship, Gen Z are turning to ChatGPT for reassurance. Yet as their relationship with the chatbot becomes more intimate and colloquial, so too does their language. Ultimately the concern arises as they thank ChatGPT for its service, or ask it to 'please' help them, given that research demonstrates this uses more energy and emits more Co₂. Gen Z may be environmentally conscious, yet their intimacy with the digital world is now proving to be harmful to the planet. As Gen Z increasingly lean on ChatGPT for emotional support and companionship, the environmental cost of constant AI usage often goes unnoticed. While digital conversations may feel weightless, every chat leaves a carbon footprint. Even virtual friendships have real-world consequences. "Killing the planet with kindness: the worst ChatGPT prompts" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
