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Alphabet shares plunge 13% after AI Mode revenue miss

By Drooid · Oct 30, 2026 · How we work

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Alphabet Inc. shares fell more than 13% in one day, erasing over $500 billion in market value.
Senior VP Philipp Schindler said quarterly revenue missed forecasts and search ad impressions fell after the “AI Mode” rollout.
Alphabet disclosed over $1 trillion in multiyear AI-infrastructure spending, including $200 billion planned this year.
The sell-off pulled Nasdaq down 1.5%, S&P 0.4%, Dow 200 points, and AI-chip stocks fell 1.6% while Caterpillar dropped 9%.

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Alphabet Inc. shares fell more than 13% in one day, erasing over $500 billion in market value.
Senior VP Philipp Schindler said quarterly revenue missed forecasts and search ad impressions fell after the “AI Mode” rollout.
Alphabet disclosed over $1 trillion in multiyear AI-infrastructure spending, including $200 billion planned this year.
The sell-off pulled Nasdaq down 1.5%, S&P 0.4%, Dow 200 points, and AI-chip stocks fell 1.6% while Caterpillar dropped 9%.