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Will Meta's AI search engine reduce Google's market share by end of 2024?
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Story
Meta ($META) Develops AI Search Engine to Reduce Reliance on Google ($GOOGL) and Microsoft ($MSFT)
Oct 28, 2024, 03:13 PM
Meta Platforms Inc. (NASDAQ: $META) is developing an AI-powered search engine to reduce its reliance on Alphabet Inc.'s (NASDAQ: $GOOGL) Google and Microsoft's (NASDAQ: $MSFT) Bing, according to a report by The Information. The new search engine aims to crawl the web to provide real-time, conversational answers about current events for users of Meta's AI chatbot, which has already attracted 185 million weekly users. The initiative, led by engineering manager Xueyuan Su for at least eight months, could reshape the digital landscape and introduce another competitor to the search market. Some websites, including The New York Times, have reportedly blocked Meta's web crawler. Following the news, Alphabet's shares fell.
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