Google slumps amid fears of AI overspending after results
FROM THE WIRE · UK.FINANCE.YAHOO.COM
Google shares have plunged after a $50bn (£38bn) AI splurge raised fears of overspending by the tech giant. Alphabet, Google's parent company, saw its shares fall as much as 9pc in after-hours trading after quarterly sales and profits missed Wall Street estimates. Massive…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishA mega-cap falling as much as 9% after missing estimates and AI spending worries can move the whole tech sector.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Alphabet shares fell as much as 9% in after-hours trading after quarterly sales and profits missed estimates.
- 02Google spent $51.3bn on AI between July and September, up from $44.9bn in the prior quarter.
- 03Negative free cash flow of $9.1bn is the second straight quarter of negative free cash flow since listing.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Alphabet Inc.324.89 USDMarket closedtoday +1.34%Negative Meta Platforms, Inc.612.49 USDMarket closedtoday -1.24%Negative Microsoft Corporation531.01 USDMarket closedtoday -0.06%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets