Google parent Alphabet’s shares plunge 12.6% as investors question returns from AI spending

Chennai Shares of Google parent Alphabet fell 12.64% on the Nasdaq on Thursday (October 29, 2026), closing at $283.82. The decline wiped out about $482 billion in the company’s market value, marking its worst one-day fall since it began trading in 2004, according to reports. https://www.thehindu.com/sci-tech/technology/tech-firms-take-fresh-hit-as-earnings-misses-fan-ai-fears/article71643459.ece Alphabet shares remained under pressure in Friday’s (October 30, 2026) pre-market trading, slipping a further 0.42% to $282.64, according to Yahoo Finance. The sell-off came after the company reported its quarterly results, renewing concerns about whether its heavy investments in artificial intelligence (AI) will generate enough returns. Tech services firms face a talent decision, not a shortage, in $100-200 billion AI race, says Boston Consulting Group Tech services firms face a talent decision, not a shortage, in $100-200 billion AI race, says Boston Consulting Group BCG analysis has identified 40 distinct Applied AI roles, each linked to an existing technology role.