(OpenAI)

OpenAI releases Chrome-competitor browser “ChatGPT Atlas,” sending Google shares down

ChatGPT currently poses little threat to Google’s search business, but an OpenAI browser — and the data that comes with it — could change everything.

Jon Keegan

OpenAI took aim at Google today with its own AI-powered web browser called “ChatGPT Atlas.” The new browser, which is currently only available for Macs, aims to merge ChatGPT with a modern web browser.

An OpenAI team member on the livestream called it “a new kind of browser for the next era of the web.” The newly-unveiled browser could help OpenAI further insert itself into users’ interactions with their computers, and prompt users to more extensively incorporate OpenAI tools in their daily lives.

The initial screen the user sees in the new browser looks a lot like ChatGPT, with a text box in the center. But instead of just entering in the name of a website or search query, users can ask the browser questions. This may take you directly to a website, but it also might search through your tabs and browser history, or pull information together from around the web to deliver a response. Atlas is built on Chromium, the open source version of Google’s Chrome browser.

Google’s AI overviews aim to do a similar thing in response to a search query, but Atlas can deliver answers without pages of search results. Google’s Chrome browser has been key to its domination of online advertising, generating $54.2 billion last quarter alone. Even a small slice of that market would help OpenAI offset the massive losses it is incurring as it ramps up its ambitious infrastructure plans.

One of the key features in Atlas is a persistent “Ask ChatGPT” button which grants the chatbot access to the contents of the webpage being viewed, letting the user ask questions about what is on the page. However, when I tried to ask Atlas questions about the front page of the New York Times, a message popped up that said “ChatGPT is unable to access the contents of this website,” likely due to the ongoing lawsuit between OpenAI and the newspaper.

That’s a reminder that the contents of your journey around the web can be used to train future models. Atlas does give users the ability to opt out, but the setting is turned on by default (but not for Business or Enterprise subscribers). Users can also open an “incognito mode” tab that will not remember what you search for, or what sites you visit.

Atlas has a deep memory — not only does it remember your searches and what sites you visit — your ChatGPT history is available to Atlas as well to help customize responses (this can also be disabled).

Listed as a “preview” feature, Atlas also has a built-in “Agent mode” that will control the web browser to complete tasks on its own. In the livestream, a demo showed Atlas visiting a supermarket website, and adding items to an order based on a recipe. The task took about 2 minutes to fill the cart.

Shares of Google took a nosedive before the announcement on Tuesday, dropping as much as 4%. After the livestream announcing Atlas, shares recovered slightly, but the stock was still down about 1.7%.

Max Knoblauch

36m

As Netflix drops on earnings miss, it’s investing just $0.40 into content for every $1 of revenue

Netflix shares fell in after-hours trading on Tuesday, following the release of the streamer’s third-quarter earnings report.

Toby Bochan, Luke Kawa

58m

US stocks go nowhere amid big rotation out of gold and into fake meat

The calmest session for the S&P 500 in over a month.

Luke Kawa6h

The no-fundamentals, high-volatility winning trades are reversing hard

The volatile, speculative momentum trades that have been on fire in recent months are getting smoked.

The SPDR Gold Shares ETF is on track for its biggest daily loss since April 2013, as of 10:28 a.m. ET.

And Goldman Sachs’ baskets of “high beta momentum longs” and “non-profitable tech” stocks, which have pretty much been the exact same line for two months, got dumped last Thursday and are down big again today.

D-Wave Quantum, Planet Labs, and Navitas Semiconductor are some of the stocks that feature in both of Goldman’s baskets and are down more than 2% as of 10:24 a.m. ET.

All of these groups have been handily outperforming the S&P 500 for an extended period of time despite by their very nature having more hype than actual track records — in terms of producing profits for shareholders — to speak of. Gold, obviously, generates no income. Nonprofitable tech stocks aren’t really in a position to spin off cash they don’t have to their owners. And, as mentioned, high-beta momentum and nonprofitable tech stocks have pretty much traded the same!

It’s difficult to pinpoint a fundamental catalyst for why speculative momentum trades suddenly turn on a dime, just as it’s often tricky to identify why they went on such a mammoth run in the first place. Perhaps the onset of earnings season — which gives us the opportunity to assess fundamental progress — means that right now, there’s more attention being paid to “line go up” when it comes to revenues and profits, and that’s taking away from the mindshare on “line go up” with respect to recent share price performance.

Matt Phillips7h

Gold slumps, GLD and miners take lumps

The record-breaking rise in gold stalled Tuesday, with prices tumbling.

The sudden downdraft hammered popular plays on the price such as the SPDR Gold Shares ETF, the largest gold ETF, which is poised for its biggest daily drop since April 2013 as of 11:52 a.m. ET.

Miners like Newmont Corp., Agnico Eagle, Wheaton Precious Metals, and Anglogold Ashanti are similarly getting whacked along with a host of speculative, high-beta momentum trades.

While there’s no clear reason for the slump, theories and contributing factors may include:

Social media chatter about gold — which coincided with a spike in options activity — cooling off considerably, according to data provided by SwaggyStocks. JPMorgan strategist Arun Jain notes that retail demand for commodity ETFs has reversed course: after routinely registering in the upper 90th percentiles much of last week, it’s in just the 2nd percentile relative to its one-year average as of 11:00 a.m. ET, with retail having pulled more than $50 million from these products.
Less safe haven demand now amid a seeming reduction in China-US tensions.
A seasonal drop in demand out of India — the world’s second-largest gold market after China — that typically follows Diwali.
Jitters about the fact that weekly CFTC positioning data on the futures market, one of the best sources of hard data on the gold market, continues to be unavailable as a result of the US government shutdown.

But even after today’s slump, gold prices, as measured by New York futures prices, are up about 60% in 2025.

Gold Slumps Most in Four Years as Record-Breaking Rally Cools

While there’s no clear reason for the slump, theories and contributing factors may include:

Social media chatter about gold — which coincided with a spike in options activity — cooling off considerably, according to data provided by SwaggyStocks. JPMorgan strategist Arun Jain notes that retail demand for commodity ETFs has reversed course: after routinely registering in the upper 90th percentiles much of last week, it’s in just the 2nd percentile relative to its one-year average as of 11:00 a.m. ET, with retail having pulled more than $50 million from these products.
Less safe haven demand now amid a seeming reduction in China-US tensions.
A seasonal drop in demand out of India — the world’s second-largest gold market after China — that typically follows Diwali.
Jitters about the fact that weekly CFTC positioning data on the futures market, one of the best sources of hard data on the gold market, continues to be unavailable as a result of the US government shutdown.

But even after today’s slump, gold prices, as measured by New York futures prices, are up about 60% in 2025.

Max Knoblauch7h

Warner Bros. Discovery spikes after it says it’s gotten takeover interest from multiple parties

With a name like Warner Bros. Discovery, you wouldn’t expect WBD to be particularly anti-consolidation. As it fields interest from Paramount Skydance, the company said Tuesday it’s open to a sale.

Paramount Skydance isn’t the only party that’s interested, according to WBD. Shares of the HBO and CNN parent climbed 11% shortly after markets opened.

“It’s no surprise that the significant value of our portfolio is receiving increased recognition by others in the market. After receiving interest from multiple parties, we have initiated a comprehensive review of strategic alternatives to identify the best path forward to unlock the full value of our assets,” CEO David Zaslav said in a statement.

In June, Warner Bros. Discovery announced its plans to split into two separate publicly traded companies, unlinking its streaming and film studios business from its cable TV networks.

Warner Bros. Discovery Initiates Review of Potential Alternatives to Maximize Shareholder Value