Alphabet reported weaker-than-expected quarterly search revenue, and Google said its AI Mode brought in less revenue than traditional search ads. The source does not give the report’s exact date. Alphabet shares fell nearly 19% in October 2026, their worst monthly performance on record, wiping $758 billion from its market value.
Analysts warned that AI agents could replace browsers and search engines as a main way people access the internet, threatening Google’s search advertising model. That shift remains a risk, not an established outcome.
