GoKawiil
Tech News
SpaceX disclosed in a regulatory filing that Google's president of global partnerships, Donald Harrison, has resigned from its board of directors. The company said the departure was not tied to any disagreement over operations, policies or practices, and thanked Harrison for his years of service.
A user found Google displaying standard search results without AI Mode while browsing in Chrome's Incognito mode, a result other outlets including Android Authority could not reproduce. The sighting comes after Alphabet lost $500 million in market value last week, which executives linked to underperforming ad revenue tied to AI Mode.
The Wall Street Journal reports that major AI companies are investing in smaller startups that use the same funds to buy services back from those large firms, creating interlinked financial dependencies. The report notes Alphabet recently suffered its largest-ever single drop in market value, wiping out more than half a trillion dollars, while data-center operator CoreWeave has also seen declining shares over recent months.
Alphabet, Amazon, Meta and Microsoft have disclosed plans to spend over $740 billion combined on capital expenditures this year, largely tied to AI data centers and chips. Alphabet reported negative free cash flow of $9.1 billion in the third quarter, its second straight quarterly loss on that measure, even as its quarterly capex rose to $51.4 billion. The news hit markets Friday, with the Nasdaq falling 2.9% and chip stocks including Nvidia, Broadcom and Qualcomm declining sharply, following Alphabet's 12% drop the prior day that erased $500 billion in market value.
Alphabet shed roughly $500 billion in market capitalization as investor unease grew over the scale of Silicon Valley's AI-related spending. The decline reflects a broader pullback in tech stocks tied to artificial intelligence investment.
US technology stocks fell for a second straight day, with the Nasdaq down over 3.5%, Intel shares plunging as much as 30%, and Reddit dropping 26%. Alphabet extended losses after losing more than $500 billion in market value the previous day, as combined 2026 AI spending commitments from Meta, Alphabet, Oracle, Amazon and Microsoft reach $800.6 billion.
US tech stocks fell sharply, with Intel dropping as much as 30% after warning of a weaker PC market even as it boosts AI spending, and losing over $130bn in value. Amazon shares slid up to 6% following earnings that missed expectations, while Alphabet continued falling after a $500bn plunge the previous day tied to AI summaries hurting search ad revenue. The Nasdaq opened at its lowest level in over two months, down 2.5%, with Reddit and Roblox also declining.
US tech stocks fell sharply on Friday, with the Nasdaq 100 down 2.6% and on pace for a roughly $1 trillion decline. Amazon shares dropped about two percent despite strong cloud earnings, as investors focused instead on its 2026 capital expenditure plans of $220 billion tied largely to AI. The slide followed Alphabet's historic 12.6% single-day plunge on Thursday, which wiped out over $500 billion in market value.
Google is rolling out ads inside AI Mode search results to 10 additional countries, including Australia, Canada and India, with Brazil, Mexico and the UK to follow later this year. In the US, the company is introducing 'multiturn ads' that can appear within follow-up conversational queries when Google detects commercial intent, alongside ads on initial AI Mode searches. The move follows comments from Google's Chief Business Officer Philipp Schindler that search ad revenue growth slowed in Q3 2026 as queries shift to AI Overviews and AI Mode, which monetize at lower rates than traditional search.
Alphabet reported 25% revenue growth to $127.6bn and a 103% jump in Google Cloud revenue, but quarterly profit fell 25% and free cash flow turned negative by more than $9bn, roughly double the prior quarter's shortfall. The company's market value dropped from $3.97tn to $3.46tn as its stock fell nearly 13% on Thursday, one of its worst single-day showings this year.
Alphabet's market capitalization fell by roughly $500 billion, according to a market wrap also noting the Justice Department has expanded a criminal investigation into Alaska's Senate race and that U.S. national debt has reached 100% of GDP. No further detail on the cause of Alphabet's decline was provided.
Alphabet's stock dropped significantly on October 29, pulling the Nasdaq down with it, after third-quarter earnings showed Google Services revenue of $96.3 billion, below Wall Street's $98.5 billion estimate. Search revenue growth slowed to 12% year over year, down from 17% in Q2 and 19% in Q1, while operating expenses rose and free cash flow turned negative as the company increases spending on data centers and AI models.