Alphabet’s Market Value Drops $500 Billion

The 13% slide was driven by discontent with the Google parent’s quarterly results. It also weighed on major U.S. stock indexes, fueling a decline in the Nasdaq composite and amplifying fears that the costs of the global AI build-out may be outrunning the returns. Alphabet reported yesterday that its Google Services unit missed analyst expectations, signaling that Google’s biggest revenue engine is slowing as AI reshapes how consumers search for information and products.

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