周四，Alphabet股价一度下跌13%，市值蒸发超过5000亿美元，创下这家谷歌母公司最差的单日表现，此前该公司公布的搜索业务收入增长放缓。
Alphabet’s shares fell as much as 13% Thursday, erasing more than $500 billion in market value in the worst single-day performance for the Google parent company after it reported slowing search revenue growth.
一位分析师写道，Alphabet的业绩不及预期“加剧了人们对AI以及智能体抢占搜索和YouTube份额、损害其AI变现叙事的担忧”，这加大了对超大规模云服务商巨额支出的审视。
Alphabet’s miss “elevates the fear around AI and agentic taking share from Search and YT and hurting their AI monetization narrative,” one analyst wrote, intensifying scrutiny of hyperscalers’ big spending.
《Semafor》的利兹·霍夫曼写道，本周资本提供方在AI债务交易上收紧条款，表明他们“正在意识到AI交易的风险，即便他们有的是钱可烧”；或者用一位华尔街高管的话说：“直到四周前我都不会说他们愚蠢，但……他们很快就聪明多了。”
Capital providers’ tougher terms on AI debt deals this week show that they “are wising up to the risks of the AI trade, even if they have the money to burn,” Semafor’s Liz Hoffman wrote, or, as one Wall Street executive put it: “I won’t say they were dumb until four weeks ago, but… they’ve gotten a lot smarter, fast.”
