In a surprise court ruling, a judge rejected calls to break up Google’s Chrome browser from its other businesses like YouTube, Search, and Ads. As a result, Google stock jumped 8%, giving a boost to the S&P 500. Apple shares also rose, as their $20B-a-year search deal with Google can continue—as long as it’s renewed annually, not locked in long-term. While Google will face oversight for six years and must avoid exclusive multi-year deals, this outcome is far better than the feared breakup scenario. A big win for Big Tech.
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