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Alphabet falls nearly 10% after admitting AI search monetizes less than traditional search

TechnologyInternationalBioBioChile35 s readAI summary
Image: BioBioChile

Alphabet shares fell nearly 10% after the company presented its third-quarter results, in which it acknowledged that AI-powered searches such as AI Mode generate less revenue than traditional search. Search revenue grew 12% to $63.25 billion, below the 14.5% growth of the same quarter a year earlier. Chief business officer Philipp Schindler attributed the slowdown to the "lower monetization" of AI Mode. Google rolled out ads alongside those searches worldwide.

In 35 seconds

  • Alphabet fell nearly 10% on the stock market after revealing that AI Mode monetizes less than traditional search
  • Search revenue rose 12% to $63.25 billion, compared with 14.5% growth a year earlier
  • Google spent $51.4 billion on infrastructure in the quarter and net income fell to $26.17 billion
Read the full story at BioBioChile

IASummary generated by artificial intelligence from a story by BioBioChile. It may contain errors: the original source prevails.

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