Google value plunges by $500bn as AI fears rattle Wall Street

Google’s value plunged by $500bn as fears surrounding artificial intelligence rattled Wall Street, placing renewed attention on the company’s substantial investment in AI.

Pichai defends major AI investment

Chief executive Sundar Pichai has backed Google’s massive spending on AI. His support comes as concerns about artificial intelligence weigh on the company’s value in the market.

Why the move matters

The sharp decline highlights the pressure facing Google as investors react to AI-related concerns. The available information does not provide further details about the specific fears driving the market reaction or the outlook for the company.

For now, Google’s significant AI spending remains supported by its chief executive despite the $500bn fall in value.