Alphabet Shares Fall on Revenue Miss and AI Costs
Alphabet reported a third quarter revenue and profit miss as heavy AI spending accelerated its cash burn to over nine billion dollars. Shares dropped more than ten percent in extended trading following the results.
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ALPHABET INC-CL A shares fell more than 10% in extended trading on Wednesday after missing third-quarter revenue and profit expectations as AI spending accelerated its cash burn. The results highlight the rising costs of the artificial intelligence buildout across the technology sector. Investors face growing concern over potential overspending and the risk of falling behind competitors.
