Google-parent Alphabet’s stock price plunges, erasing more than $500 billion in value

Shares of Google parent company Alphabet sank on Thursday by as much as 15.8%, putting the company on course for its worst single-day drop in history.

The plunge also instantly wiped out more than $550 billion in market capitalization, also ranking as the company’s worst one day market value loss ever. It also ranks as the second-worst wipeout in market history, only behind Nvidia’s $589 billion drop in 2025.

Google is still America’s fourth largest company by market value, and its shares are worth more than $3.4 trillion, all told.

But the sharp drop in its stock price Thursday was the latest sign of a broader anxiety creeping through Wall Street over how long it will take big artificial intelligence companies to see consistent returns on their massive investments.

The significant selling came after the company reported its latest quarterly financials Wednesday, revealing that revenues fell short of Wall Street expectations.

It also reported lackluster advertising sales.

The “magnitude” of the slowdown in Google’s search business was “steeper than expected,” JPMorgan Chase analysts wrote in a Thursday morning note.

A senior Alphabet executive told investors Wednesday that part of the reason ad revenues from search were underperforming was because of…

Original source: https://www.nbcnews.com/business