Google CEO Sundar Pichai.Karl Mondon / AFP via Getty Images
Oct 29, 2026, 11:34 AM GMT
Thursday, slashing Alphabet’s market capitalization by over $500 billion, from around $3.9 trillion to $3.4 trillion.
If the losses persist until the close, it would be the second-largest one-day loss of market capitalization ever. Only AI chipmaker Nvidia has lost more value in a single day, when it shed close to $600 billion on January 27, 2025, on fears that China’s DeepSeek would steal its lunch.
Alphabet’s shares slumped after its earnings report on Wednesday showed about $9.1 billion in negative free cash flow as it spent heavily on AI infrastructure, and profits that fell short of Wall Street’s forecasts.
Google’s AI search revenue also lagged expectations, despite CEO Sundar Pichai saying on the earnings call that AI helped search queries grow at the fastest year-over-year pace in five years.
Retired, living in the Scottish Borders after living most of my life in cities in England. I can now indulge my interest in all aspects of living close to nature in a wild landscape. I live on what was once the Iapetus Ocean which took millions of years to travel from the Southern Hemisphere to here in the Northern Hemisphere. That set me thinking and questioning and seeking answers.
In 1998 I co-wrote Millennium Countdown (US)/ A Business Guide to the Year 2000 (UK) see https://www.abebooks.co.uk/products/isbn/9780749427917
