OpenAI unveils AI-powered search engine

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and OpenAI’s new AI-powered search engine.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange.

00:02Here's what we're watching on the street today.

00:04A week filled with angst ended with smiles across Wall Street after a tame inflation

00:09report brightened the mood. Data released Friday showed prices easing closer towards

00:15the Federal Reserve's 2% inflation target. The report sets the stage for the Fed's two-day

00:19policy meeting next week. Trading will also be dictated by the latest employment report

00:24and the biggest earnings week yet. McDonald's, Microsoft, Meta, Apple and Amazon are some of

00:31the names to watch. In other news, OpenAI is launching an AI-powered search engine called

00:37SearchGPT to go head-to-head with Google. It will also compete with Microsoft's Bing,

00:43even though Microsoft is OpenAI's biggest partner. SearchGPT is on a trial run with a small group of

00:49users with plans to eventually incorporate some of its functionality into future versions of

00:56ChatGPT. OpenAI described SearchGPT in a blog post as, quote,

01:01a prototype of new search features designed to combine the strength of our AI models with

01:07information from the web to give you fast and timely answers with clear and relevant sources.

01:13Learning from past mistakes, OpenAI is getting publishers on board early in the process.

01:18News Corp. and The Atlantic have both signed on as publishing partners.

01:22SearchGPT will face competition from AI-powered search engines in the works from Google,

01:27Microsoft and Perplexity and AI Search Chatbot, backed by NVIDIA and Amazon founder Jeff Bezos.

01:36That'll do it for your daily briefing from the New York Stock Exchange.

01:39I'm Conway Gittins with the Street.