Alphabet Shares Plunge 12.6% Following Quarterly Earnings

Alphabet shares fell 12.64 per cent on the Nasdaq to close at 283.82 US dollars, wiping out about 482 billion US dollars in market value.

The sell-off followed quarterly results that sparked investor concerns regarding returns on heavy capital investments in artificial intelligence infrastructure.

Alphabet reported capital expenditure of 51.4 billion US dollars for the September quarter, driven largely by data centers, servers, and networking equipment.