Edit: Found! It was the made for tv remake of "The Computer Wore Tennis Shoes". Thanks, skinnydugan!
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I've only seen this movie once on tv, so it may have been a made for tv movie. The plot of the movie is that all the knowledge from the internet is transmitted to a highschool aged boy and he becomes computer-like. He then uses this knowledge to win academic competitions. The competitions are teams of four answering trivia type questions, but the one boy answers them all for his school perfectly. There is a rival school with a smart kid who is short with a bowl cut and nerdy glasses who is obsessed with beating him. The competitions are televised and the rival school kid is watching him answer questions and sees him actually get one question wrong. In the shot, the announcer has been used to saying he's correct so he says "That's ...incorrect?" With a confused look on his face. The rival boy then looks it up the question on the internet and sees the information was wrong. He then calls the boy and plays an audio "virus" like the old dial up tone. The boy then loses his knowledge just before thw final competition between the two schools. The boys team then has to compete normally as a team and I can't remember, but they probably won.
Other notable facts is that there's a romance between the internet boy and a female team mate which is probably why he joined.
There was also a scene where he walks past a roadside vendor and picks up a book. He flips through the book rapidly and is able to read it all. He is laughing midway through then finishes and comments that the ending was bad to the seller before putting it back on the shelf.