Alphabet earnings miss reflects first real sign that AI is taking a bite out of search

Alphabet's stock declined sharply after the company reported earnings that fell short of Wall Street expectations, with revenue from its core search business performing weaker than forecast. BBC reported the company's market value dropped by $500 billion and stock reached a six-month low following the announcement. Alphabet disclosed that its AI-generated search summaries were affecting advertising revenue, according to BBC.

• CNBC — Alphabet earnings miss reflects first real sign that AI is taking a bite out of search
• BBC — Google value plunges by $500bn as AI fears rattle Wall Street

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