Alphabet Plunges 13%, Dragging Nasdaq Lower — SkimNews
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- Alphabet shares fell 13%, putting the stock on course for its biggest drop, as the company heads toward a record loss amid AI spending woes.
- Nasdaq declined as the potentially historic Alphabet selloff dragged the US market lower, with Alphabet's cloud expectations crushed even as its AI spending bills came due.
Why it matters: With a 13% fall and a record loss on the horizon, Alphabet's AI buildout is being priced as a cost rather than future growth, and the crushed cloud expectations add a second front. The Nasdaq followed the stock lower, showing the repricing reached the index itself.
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