Look out, Google! An up-and-comer is taking aim at your strong hold on the web-search market. OpenAI (the developer of artificial intelligence-powered chat platform ChatGPT) is tinkering with its own search engine. Leveraging the company's existing tech, this new platform promises "fast and timely answers with clear and relevant sources" to users' queries. At stake is a piece of the $200 billion search engine market currently dominated by you-know-who.

Alphabet shares were down following OpenAI's announcement.

Except, maybe shareholders of Google parent (NASDAQ: GOOG) (NASDAQ: GOOGL) don't actually need to worry too much about the development. There are reasons beyond serving up well-sourced responses to web queries that Google is still and will remain the dominant name in the search business.

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Source Fool.com