Following ChatGPT's announcement of a new browser, Google's market capitalization drops by $100 billion.

With the release of ChatGPT Atlas, an AI-powered web browser, it will face off against Google Chrome.

With the release of ChatGPT Atlas, OpenAI's first AI-powered web browser, on Tuesday, Google's stock fell by about 5%. The manufacturer of ChatGPT is now directly competing with Google, which has almost 3 billion Chrome users globally and has integrated some AI features from Google's Gemini engine.

The well-liked chatbot from OpenAI has now been transformed into a search engine gateway, potentially increasing internet traffic and generating more revenue from digital advertising. According to OpenAI, there are already over 800 million users of ChatGPT, but many of them are free users. The San Francisco-based company is looking into more methods to turn a profit and also provides paid programs.

ChatGPT Atlas
The AI-powered browser was created to provide a customized online experience and manage user chores like flight reservations and document editing. An "Ask ChatGPT" option always shows up when a user enters a page in their browser, bringing up a sidebar where they can interact with the content.

It's a "rare, once-a-decade opportunity to rethink what a browser can be about and how to use one," according to OpenAI CEO Sam Altman. First released on macOS, the browser will soon be made available on Windows, iOS, and Android.

Atlas enables users to analyze data from any website, compare items, and summarize content by opening a ChatGPT sidebar in any window. ChatGPT can carry out tasks on their behalf, finishing actions from beginning to end, when in "agent mode," which is presently only accessible to premium users.

OpenAI developers demonstrated in a demonstration on Tuesday how ChatGPT could locate a recipe online and purchase all the ingredients automatically. It took a few minutes for the agent to access the Instacart website and add the necessary groceries to the cart.

Comparing ChatGPT Atlas with Google Chrome

With the release of the AI-powered web browser, it will go off against Google Chrome, which, according to StatCounter, had a 71.9% market share in the global browser market in September.

Following the release of ChatGPT Atlas, the parent company of Google saw a decline in value. It was $252.68 at 11 a.m. local time on Tuesday, but within 15 minutes it fell to $246.15, the day's lowest, wiping off around $100 billion in market capitalization, according to reports.

Since ChatGPT's debut, Google has been attempting to adjust to users' evolving search preferences. A Google search can now display an AI summary, known as AI Mode, in addition to standard links, depending on the query, giving the user a chatbot-like experience.