According to CoinMeta, Google's parent company Alphabet experienced a significant drop in stock price on October 29th, with the decline widening to 13% at one point, bringing the stock price down to around $280. According to Reuters, Alphabet's financial report for the third quarter of 2026 fell short of market expectations, exacerbating investors' concerns about the slowdown in growth of its search advertising business and the continuous rise in AI investment costs. The company's revenue for that quarter was $127.6 billion, which was $12.82 billion lower than the market's forecast, and net profit decreased by 25% to $26.17 billion. At the same time, the company had a negative free cash flow of $9.07 billion, with capital expenditures reaching $51.4 billion, reflecting its ongoing increase in investments in AI infrastructure and cloud computing. Google Cloud's revenue for the third quarter more than doubled year-on-year, reaching $30.71 billion, but the search advertising business did not perform as expected, with search advertising revenue amounting to $63.4 billion, which was lower than analysts' forecasts.