PYMNTS.com August 30, 2024
Apple’s search deal with Google reportedly could be impacted by a potential Apple investment in OpenAI.
Under a current deal between the two companies, Google pays Apple to be the default search engine on iOS devices, according to a Friday (Aug. 30) report by Seeking Alpha.
This longstanding agreement adds billions of dollars and several percentage points of Apple’s operating margin and profits, PYMNTS reported Aug. 6. Apple and Google entered into this Internet Services Agreement in 2016 and, per the deal, Google pays Apple a share of its search ads revenue in exchange for Apple preloading Google as the “exclusive, out-of-box default” search engine. The agreement is in place through 2026, and there’s an option to extend the joint...
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