Shares of Google parent Alphabet sank 3% on Tuesday after OpenAI announced the launch of ChatGPT Atlas, an artificial intelligence-powered web browser.

OpenAI posted a five-second video on X showing three browser tabs that say “Livestream,” “Today” and “10 a.m. PT.” The company’s CEO Sam Altman highlighted the upcoming launch in a separate post, writing that it’s for a new product he’s “quite excited about!”

On YouTube, OpenAI published a link to a livestream titled “Introducing ChatGPT Atlas.” In the description, the company describes the product as its “new browser” and said it’s available globally on macOS with Windows, iOS and Android coming soon.

In January, OpenAI unveiled Operator, an agent that uses a browser to complete tasks, but it has yet to release a standalone browser product. Launching a browser would put the company in direct competition with rivals like Google and Perplexity AI, who are jostling to attract users and win market share with their offerings.

Earlier this month, Perplexity announced that its AI browser web browser Comet is available for free worldwide.

The Comet browser is designed to serve as a personal assistant that can search the web, organize tabs, draft emails, shop and more, according to the company.

Google rolled out a Gemini model in its Chrome browser in September, which allows users to ask for help understanding the contents of a particular webpage, work across tabs, or do more within a single tab, like scheduling a meeting or searching for a YouTube video.