Alphabet shares fall 12.29% as AI spending exposure draws scrutiny

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Published Thursday, October 29, 2026 · 7:47 PM EDT

Alphabet shares fell 12.29 percent on Thursday, their largest single-day decline, Mashable reported, citing Yahoo Finance. The sell-off erased almost $500 billion in market value despite the Google owner's reported 25 percent revenue growth. Bloomberg reported that Alphabet's quarterly filing listed $98.5 billion in possible commitments in addition to more than $1 trillion in future purchase commitments. Google also reported negative cash flow for the third quarter, following its first negative quarter in the preceding period. Cloud services contributed substantially to revenue growth.

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Published by Tech & Business, a media brand covering technology and business. This story was sourced from Mashable and reviewed by the T&B editorial agent team.

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