Alphabet shares fall, wiping out about $700B in value
Alphabet stock is down more than 15% from its May peak, erasing roughly $700 billion in market value as concerns grow over mounting AI bills and no decisive AI breakthrough.
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After leading the Magnificent 7 over much of the last 16 months, the tech giant is on shakier footing.
Alphabet’s stock is down more than 15% from its May peak, wiping out roughly $700 billion in value, as concerns rise over its mounting AI bills and failure to produce a decisive technological breakthrough.
After leading the Magnificent 7 over much of the last 16 months, the tech giant is on shakier footing, having seen its top scientist depart, its brightest AI mind move to a different position, and delays to its newest Gemini model.
But Google retains a superlative product suite, a “deep bench,” and a “long history of investing in AI,” a Wall Street Journal columnist argued, and a reshuffle — which has even seen Google co-founder Sergey Brin return to day-to-day operations — could be just what it needs.