Investors in AI race spooked after Google value drops $500bn | BBC News
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Investors in AI race spooked after Google value drops $500bn | BBC News
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Google owner Alphabet lost just over $500bn (£374bn) in value after it revealed its artificial intelligence (AI) summaries on search were affecting ad revenue.
While their total revenue grew by 25% compared to last year, Google’s stock hit a six-month low on Thursday, falling by almost 13%.
Shares in Amazon and Microsoft also took a hit, but both tech giants joined Google in plans to continue investing in an ongoing AI race.
#Google #Alphabet #AI #Markets #BBCNews
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#Google #Alphabet #Stocks #AI #BBCNews
While their total revenue grew by 25% compared to last year, Google’s stock hit a six-month low on Thursday, falling by almost 13%.
Shares in Amazon and Microsoft also took a hit, but both tech giants joined Google in plans to continue investing in an ongoing AI race.
#Google #Alphabet #AI #Markets #BBCNews
Subscribe to our channel here: https://bbc.in/bbcnews
For the latest news download the BBC News app or visit BBC.com/news
#Google #Alphabet #Stocks #AI #BBCNews
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