Alphabet, the parent company of Google, lost approximately $500 billion in market value after posting disappointing quarterly results. Its shares fell 12% to 13% amid intensifying competition from OpenAI’s ChatGPT and Anthropic’s Claude. Google reported a slowdown in search advertising revenue growth and weaker-than-expected monetization from its AI Mode. AI investments exceeding $50 billion resulted in negative free cash flow. Investors are now watching Google’s strategic response and Anthropic’s evolving competitive position in AI models.
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