Alphabet loses $500 billion in market value

Alphabet’s shares fell by 13%, erasing more than $500 billion in market value in the company’s worst single-day performance after it reported slowing search revenue growth. Alphabet’s shares fell as much as 13% Thursday, erasing more than $500 billion in market value in the worst single-day performance for the Google parent company after it reported slowing search revenue growth. Alphabet’s miss “elevates the fear around AI and agentic taking share from Search and YT and hurting their AI monetization narrative,” one analyst wrote, intensifying scrutiny of hyperscalers’ big spending. Capital providers’ tougher terms on AI debt deals this week show that they “are wising up to the risks of the AI trade, even if they have the money to burn,” Semafor’s Liz Hoffman wrote, or, as one Wall Street executive put it: “I won’t say they were dumb until four weeks ago, but… they’ve gotten a lot smarter, fast.”