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Alphabet Shares Drop on AI Spending Concerns

Alphabet shares tumbled after earnings revealed heavy artificial intelligence spending and cash burn. Meanwhile, global markets digested the latest Federal Reserve signals and anticipated an ECB rate decision.

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Traders work, as screens broadcast a news conference by US Federal Reserve Chair Kevin Warsh following the Fed rate announcement, on the floor of the New York Stock Exchange (NYSE) in New York City, US, October 28, 2026. REUTERS/Jeenah Moon

ALPHABET INC-CL A shares plunged 10% overnight after disappointing earnings fueled investor anxiety over soaring artificial intelligence spending and cash burn. The drop rippled across global markets during the morning session. Hyperscaler capital expenditure is once again testing market nerves as tech giants pour billions into infrastructure.