Alphabet share price plunges 7%, wipes off $150 billion market value as Apple plans to offer AI search options on Safari

Alphabet share price fell sharply on Wednesday, tumbling over 7% following reports that Apple Inc. is planning to integrate AI-powered search options into its Safari browser. Google-parent Alphabet shares closed 7.51% lower at $152.80, wiping out approximately $150 billion in market capitalization.

The development marks a significant setback for Google, whose core advertising business heavily depends on iPhone users conducting searches through its engine. According to a Reuters source familiar with the matter, Apple executive Eddy Cue testified during an antitrust trial that the iPhone maker is “actively looking at” reshaping its Safari browser.