Alphabet shares tumbled about 13% on Thursday, on pace for the worst day in the Google parent's history. Investors reacted to a third-quarter report that showed slowing search growth, a sharp profit miss and free cash flow pushed deep into the red by massive spending on artificial intelligence.

The selloff was on track to erase about $496 billion in market value, according to Yahoo Finance estimates. That would be the second-largest one-day loss for any U.S.-listed company, behind only Nvidia's roughly $593 billion drop on Jan. 27, 2025.

It would also be Alphabet's steepest decline since its 2004 initial public offering. The company's previous worst day by market value came on July 23, 2026, when it lost about $275 billion.

Worst post-earnings drop on record

Bespoke Investment Group said the move was Alphabet's steepest post-earnings decline since it went public. The previous record was a slide of nearly 10% in July 2008.

The stock has now lost about $1.4 trillion in value since its record high in May, Yahoo Finance reported.

To match Nvidia's record, Alphabet shares would need to close near $274.75, about 15% below Wednesday's close, according to Yahoo Finance calculations.

Alphabet reported third-quarter revenue of $127.6 billion, up 25% from a year earlier and slightly ahead of analysts' expectations. It was the company's 13th straight quarter of double-digit........

© International Business Times