Alphabet stock plummets as AI spending turns cash flow negative
Google's parent company, Alphabet, saw its shares fall as much as 13% in early trading Thursday after it missed profit expectations and reported negative free cash flow as artificial intelligence spending surged. Revenue grew 25%.
TL;DR
- Alphabet's shares fell up to 13% in early trading.
- The company missed profit expectations.
- Free cash flow became negative due to increased AI spending.
- Revenue saw a 25% increase.