Alphabet Erases Record $500 Billion as AI Fears Hit Sales

Alphabet shares fell more than 13%, wiping out over $500 billion in the company's biggest-ever market plunge. Disappointing search and advertising sales reinforced investor concerns about AI's threat to its core business.

• Alphabet shares dropped more than 13% in a single session
• Market value loss exceeded $500 billion
• Search and advertising sales came in weak
• Investors fear AI pressure on the core business