Alphabet Shares Fall 12.6%, Erasing About $482 Billion in Market Value
Alphabet shares fell 12.6% Thursday, their steepest one-day decline since the company’s 2004 public debut. The selloff erased about $482 billion in market value as investors focused on AI costs despite cloud growth.
Alphabet NASDAQ:GOOGL shares slid 12.6% Thursday, wiping about $482 billion from its market value as investors focused on artificial-intelligence costs rather than cloud growth. The drop was its steepest one-day decline since its 2004 public debut.Revenue climbed 25% year over year to $127.6 billio…