With shares down almost 8%, Google lost more market cap Wednesday than the total valuation of Nike or Starbucks.

Google has been worrying about losing search share to AI engines like ChatGPT for a couple of years.

WASHINGTON] Shares in Google parent Alphabet plunged more than eight per cent on Wednesday after Apple executive Eddy Cue testified in federal court that Google’s search traffic on Apple devices declined last month for the first time in over two decades.