Google value plunges by $500bn as its own AI search hits ad sales
Covered by 8 sources
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Alphabet's quarterly revenue rose 25% to $127.6bn, boosted by Google Cloud's 103% growth, but profits fell 25% and free cash flow turned negative due to heavy AI investments. Google's AI-driven search reduced ad sales, causing Alphabet's market value to drop by $500bn. Meanwhile, Microsoft reported 19% revenue growth and increased AI tool usage, with a smaller stock decline.
Covered by 8 sources
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