Alphabet Stock Plunges 10% as Search Ad Growth Slows Despite Rising AI Demand

Alphabet (NASDAQ: GOOGL) shares fell more than 10% to $291.49 in pre-market trading Thursday after the Google parent reported weaker-than-expected third-quarter earnings, as slowing search advertising growth and heavy artificial intelligence spending overshadowed strong demand for its cloud services. Alphabet reported diluted earnings of $2.12 per share for the quarter ended September 30, down from $2.87 a year earlier.

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