Alphabet (GOOGL) Shares Slide After OpenAI Drops Teaser For New AI Browser

Oct 22 - Alphabet GOOGL shares fell nearly 2.5% on Tuesday after online chatter and a short social post from OpenAI hinted the company would unveil an AI-powered web browser, according to a social-media post.

Class A and B shares dipped about 4% around 11:00 a.m. ET before paring losses, as investors reacted to the prospect of a new browser that could challenge Google Chrome's dominance.

OpenAI posted a brief video on X saying it would livestream a presentation at 10:00 a.m. PT (1:00 p.m. ET). The teaser drew attention because a successful AI browser could alter search and browsing dynamics that have long favoured Google.

Trading activity was steady but below recent averages: roughly 21.52 million GOOGL shares and 12.76 million GOOG shares changed hands by 12:10 p.m. ET, trailing their three-month volume norms.

Chrome remains the world's most used browser, with an estimated 3.45 billion users as of late 2024 and early 2025, giving Google a sizeable lead if any new entrant seeks scale.