Alphabet shares fall 12.6% as investors question returns on AI spending

Picture: The Hindu Tech · see the original ↗

Alphabet shares fell 12.64% on the Nasdaq on 29 October 2026, closing at $283.82 and wiping out about $482 billion in market value, its worst one-day fall since listing in 2004. Revenue grew 25% to $127.6 billion, but capital expenditure of $51.4 billion exceeded operating cash of $42.3 billion, leaving free cash flow negative at $9.1 billion. Lower advertising revenue from AI-powered Search queries added to investor concerns.

Source: The Hindu Tech ↗