Alphabet shares fell about 13% in trading Thursday, which could lead to a record loss of more than $400 billion in market value for the company, Yahoo Finance writes. Google Cloud's third-quarter revenue more than doubled to $31 billion, but revenue from its search business fell short of analysts' expectations at $63 billion. As Reuters points out, the corporation is actively increasing its reserves of its own AI chips for data centers, which is why free cash flow turned negative by $9 billion amid large-scale infrastructure spending.