Alphabet shares suffer worst-ever single-day fall, USD 500 billion wiped off market value amid AI spending concerns

Washington [US], October 30 (ANI): Shares of Google’s parent, Alphabet, plunged more than 12 per cent on Thursday, marking their worst single-day decline on record and wiping out around USD 500 billion in market value, as investors grew increasingly concerned about rising artificial intelligence spending and slowing growth in its search advertising business, according to a report by CNN.