The catalyst behind the market panic was Alphabet’s latest quarterly performance, where flagship Google Search revenue fell short of analysts' expectations
Alphabet lost over $500 billion in market value as weaker-than-expected search and advertising sales raised concerns over AI's impact on Google's core business and soaring infrastructure costs.
Alphabet’s shares fell by 13%, erasing more than $500 billion in market value in the company’s worst single-day performance after it reported slowing search revenue growth.
Alphabet shares plunged more than 13%, wiping out $511 billion in market value after search and advertising sales missed forecasts, intensifying concerns that AI is weakening Google’s core business.
Alphabet shares fell about 13% Thursday after Q3 results showed slower Search revenue growth alongside heavy AI spending. The selloff renewed concerns about how Google will fund its AI expansion...
Google owner admits ‘AI mode’ has hurt traditional search as sales and profits undershoot expectations
Shares of Google parent company Alphabet sank 12.6%, the company’s worst ever single-day drop.
Alphabet stock recorded its worst-ever day on Thursday, dropping 12.29 percent by close of day; Alphabet is the owner of Google, among other companies. The drop came despite the very strong...
Discontent with the Google parent’s quarterly results highlights the tensions of its transition from search engine to artificial-intelligence hyperscaler.
Search giant boosted spending on AI investments to more than $50bn in the quarter
Google's stock dropped as much as ten percent after its quarterly earnings. Cloud revenue more than doubled to $30.7 billion, but search revenue grew just 12 percent, slower than expected. Google...
In its Q3 earnings, Google said its AI investments are leading to more searches than ever, yet it's not making money at the same rate.
Google stock rose amid Q3 cloud computing growth that beat expectations while internet search advertising growth slowed again.
Google stock faces a Q3 earnings test amid renewed investor worries over the core internet search advertising business.
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