Alphabet 市值蒸發逾 $500 billion，股價最多下跌 13%
Alphabet loses $500 billion in market value
Alphabet 股價週四最多下跌 13%，在公佈搜尋收入增長放緩後，市值蒸發逾 $500 billion，創 Google 母公司單日最差表現。一名分析師指出，業績未達預期加深市場對 AI 智能體搶佔搜尋及 YouTube 市佔、並損害其 AI 變現論述的憂慮。本週融資方對 AI 債務交易提出更嚴格條款，大型科技公司的高額支出亦受到更嚴密審視。
報道把搜尋收入放緩、AI 智能體競爭疑慮及融資條款轉嚴並置，呈現市場如何重新衡量 AI 投資風險。
Alphabet’s shares fell as much as 13% Thursday, erasing more than $500 billion in market value in the worst single-day performance for the Google parent company after it reported slowing search revenue growth.
Alphabet’s miss “elevates the fear around AI and agentic taking share from Search and YT and hurting their AI monetization narrative,” one analyst wrote, intensifying scrutiny of hyperscalers’ big spending.
Capital providers’ tougher terms on AI debt deals this week show that they “are wising up to the risks of the AI trade, even if they have the money to burn,” Semafor’s Liz Hoffman wrote, or, as one Wall Street executive put it: “I won’t say they were dumb until four weeks ago, but… they’ve gotten a lot smarter, fast.”
來源：Semafor · semafor.com