Norwegian tech firm Opera (OPRA) has joined the race towards developing agentic browsers powered by artificial intelligence. Agentic browsers act like an ‘agent’ and are powered by AI to act autonomously to complete tasks such as booking flights, filling forms, or comparing products.
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On Tuesday, Opera began rolling out Neon, its new AI-centric browser, to select users. The browser will compete with Nvidia (NVDA)-backed Perplexity AI’s Comet browser, and the Dia browser developed by The Browser Company.
According to Opera, Neon is “built to act” and can find and open pages, chat with users, build custom prompts, or use community-generated prompts. The browser can also carry out tasks such as taking meeting notes, shopping, applying for jobs, creating reports, websites, video games, and even building apps.
Opera noted that it built the subscription-based browser for “power users” and those “who want to achieve more on the web with AI.” The browser joins Opera’s family of browsers and is distinctive from its other browsers, which have basic AI features.
The Race for AI-Driven Browsers
Neon’s rollout comes as the race to develop agentic browsers propelled by artificial intelligence is heating up, with both startups and established companies eyeing a competitive advantage.
Earlier this month, collaboration tool software developer Atlassian (TEAM) agreed to acquire The Browser Company for $610 million in cash. Apart from Comet and Dia, Neon will also face competition from Brave’s Leo browser.
This comes as U.S. tech giant Microsoft (MSFT) recently stepped up its game in the war, with the launch of an experimental “Copilot Mode” that aims to make the AI assistant faster and smarter. However, Alphabet’s (GOOGL) Google Chrome, which remains the dominant leader of the browser market with nearly 70% of market share, is not sleeping either as it continues to roll out more AI features.
Is OPRA Stock a Buy?
Across Wall Street, Opera’s shares currently boast a Strong Buy consensus recommendation, as seen on TipRanks. This is based on five Buys assigned by Wall Street analysts over the past three months. Moreover, the average OPRA price target of $26.30 indicates a 28.54% upside potential.
