Shares of Google parent company Alphabet sank by as much as 15.8%, on course for the company’s worst single-day drop in history.

Investors balked at Alphabet pouring $51.4 billion into capital expenditures, like buying data centers and ramping power capacity, in just three months.

Alphabet's sell-off helps drag Nasdaq down 1.4%.Alphabet loses around $480bn in market value.Pichai defends long-term investment plans amid worries.NEW YORK: Google parent Alphabet's shares plunged

Shares in Google's parent company Alphabet have suffered their worst-ever day on the US stock market, falling more than 12% and knocking around half a trillion dollars off its value.

Schindler cited ‘lower monetization’ in AI Mode searches. Alphabet shares fell over 12%, wiping $511bn, as Google takes AI Mode ads global.

Alphabet topped Wall Street estimates for third-quarter revenue growth at its cloud computing unit on Wednesday, driven by sustained enterprise spending on AI infrastructure and expanding adoption of its GenAI tools.

Alphabet reported quarterly revenue of $127.6 billion, up 25% year over year, but earnings of $2.12 per share missed expectations of around $3.01. Its net income

Alphabet Inc., Google's parent company, reported strong revenue growth in its third quarter, but it fell short of Wall Street expectations.

Alphabet is seeing "extraordinary demand" for its tensor processing units from across the board, including artificial-intelligence labs and financial firms, an executive said. Google's Anat Ashkenazi also emphasized that the company sells TPU "systems,