Mainly: What happens to the company if lots of people start using AI engines to answer questions instead of Google's dominant search engine? Now it looks like that might actually be happening. Apple executive Eddy Cue says searches on Apple's Safari browser shrank for the first time ever in April — a change he chalked up to people using AI instead.

Alphabet stock fell sharply in midday trading on Wednesday after Bloomberg reported that an Apple executive’s testimony pointed to artificial intelligence taking market share from traditional search.Apple’s Senior Vice President of Services Eddy Cue testified in a Department of Justice lawsuit against Google that searches in Apple browsers fell for the first time as people turn to AI for their search queries,

While the full impact of Apple’s potential move into AI search is yet to be seen, Alphabet’s stock reaction reflects immediate investor concern over the company’s ability to maintain its search-related revenue if Apple becomes a competitor in this space. Shares of Apple also declined, falling 2%.