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Google parent Alphabet suffers nearly $500B Wall Street wipeout amid AI spending fears

Google parent Alphabet suffers nearly $500B Wall Street wipeout amid AI spending fears

Google parent Alphabet lost approximately $500 billion in market value Thursday after its shares plunged nearly 13% following disappointing quarterly earnings, marking the second-largest single-day market value loss in stock market history.Alphabet's Class A shares closed at $283.82, down 12.64%, wiping approximately $499.8 billion from the company's market capitalization, according to The Wall Street Journal.The sell-off followed Alphabet's third-quarter earnings report Wednesday, which showed revenue of $127.6 billion, up 25% from a year earlier but below Wall Street's expectations.The resul...

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