Apple stands to lose the $20 billion it earns annually from making Google the default search engine in Safari. According to Apple's services chief Eddy Cue, the company is already exploring AI-powered alternatives.

Following Apple mentioning that it was looking to add AI search to the iPhone and perhaps replace Google, shares in the search engine giant dropped over 7% — and Google didn't like it.

Apple is “actively looking at” reshaping the Safari web browser on its devices to focus on AI-powered search engines, Bloomberg News reported on Wednesday, a move that could chip away at Google’s dominance in the lucrative search market.