Plus, OpenAI and Bain & Co. expand their AI partnership. And TSMC reports record quarterly profit off the AI boom. Zoe Thomas hosts.
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[00:00:30] [SPEAKER_01]: October 17th. I'm Zoe Thomas for The Wall Street Journal.
[00:00:34] [SPEAKER_01]: The most senior Google executive overseeing the company's search engine and ads products, Prabhakar Raghavan, is leaving the role.
[00:00:43] [SPEAKER_01]: The change comes as Google faces unprecedented pressure on its search business from the Quartz and from rival artificial intelligence products.
[00:00:51] [SPEAKER_01]: Google's search advertising business is expected to dip below 50% of the market share in the U.S. next year
[00:00:58] [SPEAKER_01]: for the first time in more than a decade. That's according to the research firm eMarketer.
[00:01:04] [SPEAKER_01]: Raghavan has led the company's core money-making business for four years.
[00:01:08] [SPEAKER_01]: He's moving to a new role as Google's chief technologist, working with CEO Sundar Pichai.
[00:01:14] [SPEAKER_01]: Raghavan will be succeeded by Nick Foxx, a long-time Google executive who has worked in the search organization.
[00:01:21] [SPEAKER_01]: We exclusively report that OpenAI and consulting firm Bain & Co. are expanding a deal to sell OpenAI's tools to Bain's clients.
[00:01:30] [SPEAKER_01]: The company's first announced a partnership last year.
[00:01:33] [SPEAKER_01]: At the core of the pact is a team that will build industry-specific AI tools for sectors including retail and life sciences, according to Bain's CEO.
[00:01:41] [SPEAKER_01]: The deal allows Bain to expand its technology and AI-related revenue.
[00:01:46] [SPEAKER_01]: For OpenAI, it could help the startup sell technology to more businesses.
[00:01:51] [SPEAKER_01]: OpenAI says it now has 1 million paying business clients, including users of ChatGPT Enterprise and ChatGPT EDU, its product for universities.
[00:02:02] [SPEAKER_01]: That's up from 600,000 paying users it said it had in April.
[00:02:06] [SPEAKER_01]: The company has declined to provide financial terms of the partnership.
[00:02:10] [SPEAKER_01]: News Corp, owner of the Wall Street Journal, has a content licensing partnership with OpenAI.
[00:02:16] [SPEAKER_01]: And Taiwan's semiconductor manufacturing company reported record quarterly profit off the back of the AI boom.
[00:02:24] [SPEAKER_01]: TSMC's CEO said revenue from AI-related servers and processors was expected to triple this year
[00:02:30] [SPEAKER_01]: and would account for about 15 percent of the company's total revenue.
[00:02:34] [SPEAKER_01]: Net profit in the July through September period rose by 54 percent to just above $10 billion, while revenue rose 39 percent to $23.6 billion.
[00:02:46] [SPEAKER_01]: For a deeper dive into what's happening in tech, check out Friday's Tech News Briefing podcast.
[00:02:51] [SPEAKER_01]: out
[00:02:51] [SPEAKER_01]: podcast.