Google Stock Plunge Amid AI Fears

What happened

The outlets' own sentences, most widely reported first. Hover or tap one to see who reported it.

Analysis

How it changed

1. 29 Oct

   Alphabet said late Wednesday that it burned through more cash during the latest quarter, according to a measure called free cash flow, after its purchases of property and equipment topped $US51 billion ($72.5 billion).

   2 outlets · Sydney Morning Herald

Coverage 6 articles

• 29 Oct Wall Street's AI fears slash Google value by $500bnGoogle's parent company Alphabet lost over $500 billion in value after reporting its quarterly earnings on Thursday, revealing that AI innovations are negatively impacting ad revenue from its core search business. Despite a 25% year-over-year revenue growth to $127.6 billion, profits fell by 25%, and the company showed negative free cash flow of over $9 billion for the first time in two years. This decline is…BBC
• 29 Oct Google stock price crashes and wipes $500 billion off company amid panic over AIGoogle’s stock price plummeted by more than 12% on Thursday, erasing $500 billion from the company's value. This dramatic decline followed Alphabet’s earnings report showing disappointing performance in its search advertising business and extensive spending on artificial intelligence (AI). Investors are worried that Google’s substantial investments in AI might not yield sufficient returns, especially since the…The Independent
• 29 Oct US stocks slide as Google parent's revenue miss revives AI spending jittersOn Thursday, US stock prices declined as investors reacted to Alphabet's (Google's parent company) poor quarterly results, which showed a revenue shortfall and increased AI spending. This led major tech indexes like the Nasdaq down by 1.66%, while the Dow Jones fell 0.59%. The day also saw mixed performance across sectors, with small caps outperforming larger stocks despite stronger-than-expected US GDP growth in Q3…Dawn
• 29 Oct ASX set to edge up, Alphabet’s plunge weighs down Wall Street ; ECB chief Lagarde resignsAlphabet's stock plummeted 12.9%, dragging down Wall Street as concerns mount about returns from AI investments. This drop is the worst day for Alphabet since its public listing over two decades ago. In contrast, Australia’s ASX market futures suggest a minor gain of 0.1% at open on Friday morning. The broader US market saw mixed performance with gains in some sectors like semiconductors and healthcare, while others…Sydney Morning Herald
• 29 Oct Google-parent Alphabet’s stock price plunges, erasing more than $500 billion in valueAlphabet's stock price plummeted by up to 15.8% on Thursday, resulting in a loss of over $550 billion in market value and marking its worst single-day drop ever. This decline was triggered by Google’s quarterly financial report, which showed revenue falling short of expectations and lackluster advertising sales, particularly due to the impact of its new AI search feature called “AI Mode.” The company also announced…NBC News
• 29 Oct Google stock falls after earnings missGoogle's parent company, Alphabet, experienced a 7% drop in stock value during after-hours trading following the release of third-quarter earnings that failed to meet profit expectations. The miss was exacerbated by increased artificial intelligence spending surpassing $50 billion, raising concerns about insufficient revenue generation for such investments. In contrast, Microsoft saw its shares rise as strong cloud…Semafor

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