Alphabet (GOOG) shares fell 12% on Thursday, erasing about half a trillion dollars in value and pulling the Nasdaq down 365 points, or about 1.4%. According to the Financial Times, it was the second-largest one-day drop in market value on Wall Street, behind Nvidia's loss of $593 billion in January 2025. Alphabet's third-quarter results were weak, with negative cash flow of $9.1 billion amid about $50 billion in AI spending, and Google Search ad sales of $63.35 billion fell short of the $64.85 billion investors hoped for, per Bloomberg. Bloomberg attributes the shortfall partly to AI Overviews and AI Mode, which leave Google less room to show ads.
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GOOGLadvertisingartificial intelligenceearnings
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Related tickers and likely impact
GOOGL
▼ Likely negativeAlphabet Inc. (Class A)
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/29/2026 | 283.75 |
| Change that session | -12.66% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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