Alphabet shares plunge $500bn on AI search ad revenue hit

Alphabet's stock fell to a six-month low after disclosing that AI-generated search summaries are cannibalizing ad revenue, erasing $500bn in market value. The selloff signals investor concern that AI integration is undermining Google's core search monetization model. The magnitude of the decline suggests a repricing of AI-related risks for big tech, though the long-term impact on Alphabet's ad business remains uncertain.

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