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Alphabet shares record their worst day ever, shedding $500 billion in value (www.nbcnews.com)
submitted 3 days ago by to c/technology@lemmy.world
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[–] 231 points 3 days ago (7 children)

But all that AI is coming at a massive cost to Alphabet, which disclosed that it has committed to more than $1 trillion worth of multiyear spending agreements to fund the infrastructure, energy and leases required to run AI systems.

This is the problem right here: lack of faith. Google should announce $3 trillion in new AI commitments. Stock market are just a bunch of pussies that can't clap hard enough for Tinker Bell to live.

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  • [–] 87 points 2 days ago (6 children)

    Did you see the part where their revenue was down because fewer ads were being served because people are using their stupid AI summaries instead of searches? God, these people are short-sighted.

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  • [–] 23 points 2 days ago (1 child)

    You talk about those people who had a close to a search monopoly, and to make the line go up, degraded results so people would spend more time searching (and thus being exposed to ads)?

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  • [–] 5 points 2 days ago

    If you tell someone to look something up you say “google it” even if you aren’t talking about a computer. They had the entire world by the balls and they threw it away on the actual dumbest shit.

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  • [–] 8 points 2 days ago* (2 children)

    They’re betting that they can slowly start incorporating ads into those AI summaries.

    EDIT: However that’s a losing bet as anyone can get a local model that can do a search like that without the enshittified model.

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  • [–] 3 points 2 days ago*

    There's also been a multiyear trend of dropping ad sales overall, especially with higher quality companies. Meaning they need far more impressions of the same buyers to make ends meet.

    They are all experiencing a recession, hidden by the Ai bubble, so the only people buying ads are lower quality scam companies, gambling and other bullshit. These are less sustainable clients that can vanish at any moment.

    Ads targetting people who cant afford to buy things are also not super viable.

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