[Google plunged more than 13% at the beginning of the trading session, the largest single-day drop in its history, and its total market value evaporated by US$500 billion] On October 29, Google’s parent company Alphabet’s US stock market dropped sharply at the opening, and now extended the decline to 13%, the largest single-day drop in its history, at US$283, and its market value decreased by more than US$500 billion from the previous trading day’s closing price. The company's third-quarter revenue was US$127.58 billion, a year-on-year increase of 25%, lower than market expectations of US$127.91 billion; adjusted earnings per share were US$2.67, lower than the expected US$2.97. Google Cloud revenue increased 103% year-on-year to US$30.71 billion, but its core advertising business performed less than expected, and its free cash flow recorded a net outflow of US$9.07 billion. As the market is worried that AI investment continues to rise, the slowdown in search advertising growth may further increase pressure on profitability and cash flow.