Wall Street’s enthusiasm for artificial intelligence (AI) took a hit after Tesla and Alphabet reported quarterly earnings, triggering a sharp sell-off in technology stocks. Tesla shares plunged around 14%, while Alphabet dropped nearly 7%, as investors shifted focus from AI-driven growth to concerns over rising costs, shrinking margins, and weaker cash flow. The market reaction...
Alphabet delivered another impressive quarterly performance, driven by booming demand for cloud computing and artificial intelligence services. Despite exceeding revenue expectations, the company’s ambitious AI investment plans overshadowed its financial success, sending its shares lower in after-hours trading. The technology giant reported revenue of $119.8 billion for the April-June quarter, comfortably ahead of analysts’ expectations....