For people in this thread convinced that Google is scrambling to come up with a ChatGPT competitor - that’s only true on the product side. Internally, LamDA has been available with a chatGPT style interface for years (maybe more like 18 months).
That’s what makes it such a challenge for Google, despite being one of the few companies who can actually pull it off at a technical level.
Both companies will also face legal issues, reputation risk (see MS’s Tay bot), and challenges scaling this tech to billions of non-paying users. MS has been more willing to march forward, Google had to be dragged into it by the competition.