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Alphabet shares plummet after revenue miss

Google parent Alphabet on Wednesday missed Wall Street profit and revenue expectations, and AI spending accelerated its cash burn, sending its shares down more than 10 percent in extended trading.

  • Alphabet shares dropped over 10% after missing profit and revenue expectations
  • CFO Anat Ashkenazi noted AI spending surge and increased capital expenditures
  • Company reported US$9.07 billion negative free cash flow, missing Wall Street's expectations

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