ðŸ‡ðŸ‡· Croatian, 29 October 2026, AI impact
Google Suffers Worst Day in History, Loses $500 Billion in Value
Google's stock plummeted 13% on Thursday, wiping out around $500 billion in market value, amid concerns over AI's impact on its business.
The decline was driven by weaker-than-expected business results and rising costs associated with developing artificial intelligence technology.
Google’s AI technology is starting to erode its core revenue source, online advertising, as users increasingly rely on AI-generated answers rather than clicking on ads.
The company is gradually introducing ads in its AI Mode, but this has not yet offset the decline in ad revenue.