Alphabet's latest earnings report has reignited concerns about the impact of artificial intelligence on Google's core search and advertising business. The company reported weaker-than-expected sales, leading to a record wipeout in market capitalization. Investors are increasingly worried that AI advancements may be eroding Google's dominance in digital advertising, a key revenue driver.
Meanwhile, Microsoft is preparing to tap the bond market for the first time since 2017, seeking at least $25 billion in debt to support its growing spending on AI cloud services. The move underscores the company's aggressive push into AI-driven technologies, which are driving significant growth in its cloud division.
In another major development, DoorDash has announced plans to acquire Instacart in a $17 billion deal, marking a significant bet on the grocery delivery market. The acquisition is expected to strengthen DoorDash's position in the competitive food delivery industry.