A highly anticipated product event from Chad GPT Maker Open AI today

set to kick off in just about an hour and a day before Google I.O.

That developer event. Our Deardubosa has more on what to expect and the impact on these

tech giants this week.

Hey, good morning, Carl.

So Open AI now has the potential to upstage Google just one day before that,

all important I.O developers event tomorrow.. Right now Google shares as you mentioned

before the break, Carl, they're lower by about 2% on an Apple Open AI

Partnership report and in just over an hour that it from open AI, the product event will be happening.

We'll be following that closely.

And here's why it matters.

One of Google's most important competitive advantage, such as in the AI Arms Race, is its distribution.

It has more than 90% market share of search, more than a billion users across its products.

It's protected that moat by signing multi-billion dollar deals over the years to keep its

placement on Apple devices which itself has an install base of billions. So a

report that Apple's closing in on a deal with open AI to put JetGPT on its iPhones, not a Google product.

That's in the words of 1TMT note this morning, a terrible headline for Google.

It would give open AI the thing that it's missing, and it would give more weight to whatever it's going to announce in about an hour ahead of the event

Altman posted on X that it's not going to be gee B. T5 and it's not going to be a search engine as earlier speculated, but it's going to be new stuff they think people will love.

One possibility is a multimodal AI voice assistant on a podcast last week.

Sam Altman talked about two approaches.

One, an AI agent that's an extension of the user.

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