Shares of Google parent Alphabet sank more than 12 percent on Thursday, October 29, after disappointing quarterly results intensified concerns about whether heavy artificial intelligence (AI) spending will generate sufficient returns.The stock fell 12.6 percent, its worst one-day decline since Alphabet went public in 2004, erasing roughly $500 billion in market value, CNBC and CNN reported. AdChoicesADVERTISINGAlphabet reported third-quarter revenue of $127.58 billion, up 25 percent year over year, but below Wall Street’s roughly $128.2 billion forecast. Adjusted earnings per share were $2.67 against an expected $3.02.
