Alphabet's stock falls 12%+, wiping a record $500B from its market cap, after reporting negative cash flow amid its AI spending; the Nasdaq falls 1.4%+ (Stephen Morris/Financial Times)

Stephen Morris / Financial Times:
Alphabet's stock falls 12%+, wiping a record $500B from its market cap, after reporting negative cash flow amid its AI spending; the Nasdaq falls 1.4%+  —  Google owner admits ‘AI mode’ has hurt traditional search as sales and profits undershoot expectations

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