谷歌母公司Alphabet周四市值蒸发逾5000亿美元（3740亿英镑），此前该公司披露，其自有的人工智能（AI）摘要正在冲击搜索广告收入。
Google-owner Alphabet lost just over $500bn (£374bn) in value on Thursday after it revealed its own artificial intelligence (AI) summaries were hitting search advertising revenue.
首席商务官菲利普·辛德勒表示，谷歌的“AI模式”（以对话方式回答用户问题）正在侵蚀传统搜索问题结果旁边展示的广告所带来的收入。
Chief business officer Philipp Schindler said Google's "AI mode", where it answers questions conversationally, was eating into the money it makes from ads which appear next to results to traditional search questions.
不过，辛德勒表示，他对以AI为重点的搜索引擎版本的“发展轨迹感到非常满意”。
Yet, Schindler said he felt "very good about our trajectory" with an AI-focused version of the search engine.
谷歌在回答全球用户问题方面的角色受到AI热潮的挑战，数以百万计的人转而使用ChatGPT和Claude等程序。
Google's role in answering the world's questions has been challenged by the AI boom, with millions of people using programs such as ChatGPT and Claude instead.
曾负责谷歌广告业务的金·斯科特告诉BBC广播四台的《今日》节目，该公司“宁愿自己吃自己的午餐，也不愿让别人吃他们的午餐”——让自家AI摘要冲击搜索收入。
Kim Scott, who formerly led Google's advertising business, told the BBC's Today programme that the company would "rather eat its own lunch than allow someone else to eat their lunch" by having its own AI summaries hit its search revenue.
她说，谷歌创立时的理念就是对技术进行长期押注——即使这些押注短期内会伤害公司。“我认为他们正在对AI进行长期押注，”她说。
She said that Google was founded on the idea of making long-term bets on technology – even if they hurt the firm in the short term. "I think they're making a long-term bet on AI," she said.
在周三发布的业绩中，Alphabet披露，截至9月底的三个月内，总营收较去年同期增长25%，达到1276亿美元。
In its results published on Wednesday, Alphabet revealed that total revenue grew 25% in the three months to the end of September, compared to the same period last year, hitting $127.6bn.
然而，该公司的盈利未达到分析师预期，尤其是其广告业务，这让许多投资者感到恐慌。业绩发布后，该公司股价暴跌逾12%，跌至六个月低点。
However, the firm did not make as much money as analysts had predicted, particularly in its advertising arm, which spooked many investors. Shares in the company plummeted over 12% to a six-month low following the release of the results.
截至周四收盘，该公司总市值从前一日的3.97万亿美元降至3.46万亿美元。
By the end of Thursday, the company's total stock market value had fallen to $3.46 trillion from $3.97 trillion the day before.
Forrester 首席分析师 Tracy Woo 表示，Alphabet 令人失望的搜索业务业绩“凸显了在保持既有业务强劲的同时，为大规模 AI 投资提供资金的挑战”。微软和亚马逊本周也发布了更新，并加入谷歌的行列，计划在持续的 AI 竞争中继续投入巨额现金。
Tracy Woo, a principal analyst at Forrester, said Alphabet's disappointing Search business results "highlights the challenge of funding massive AI investments while maintaining the strength of established businesses." Microsoft and Amazon also issued updates this week, and joined Google in plans to keep spending huge sums of cash in the ongoing AI race.
但投资者对这些计划对各公司保持核心业务增长能力的影响感到失望。亚马逊股价在周四受到冲击，盘后交易中跌幅达 6%。
But investors appeared dismayed at the impacts these plans are having on the ability of each to keep growing their core lines of business. Amazon's stock took a hit on Thursday , with its shares falling 6% in after-hours trading.
公司公布的季度销售额增长 11%，达到 2010 亿美元的同时，披露了惊人的现金流数字——负 420 亿美元。
Alongside quarterly sales growth of 11%, hitting $201bn, the company shared a staggering cash flow figure of negative $42bn.
这一数字表明，亚马逊不仅支出超过收入，而且支出在三个月内增长了六倍。
That number shows that Amazon is not only spending more money than it makes, but that spending has increased six-fold over the span of three months.
首席执行官 Andy Jassy 称，公司支出部分是因为它拥有不止一家、而是两家未来可能为亚马逊带来 1 万亿美元收入的业务机会。
Chief executive Andy Jassy claimed the business was spending in part because it had the chance at, not one, but two businesses that could end up bringing in $1 trillion for Amazon the future.
Jassy 指出，亚马逊的云服务业务以及零售业务可能就是这些业务。在与金融分析师的电话会议中，他还多次提到亚马逊自行研发并销售计算芯片的财务机会，以及其 AI 开发者平台 Bedrock，该平台为付费用户提供对大多数主流 AI 模型和工具的访问。
Jassy noted that Amazon's cloud services business, as well as retail stores, may be those businesses. During a call with financial analysts he also repeatedly mentioned the financial opportunity presented by Amazon making and selling its own computer chips, as well as its AI developer platform Bedrock, which offers paying users access to most major AI models and tools.
Jassy 说：“我们二十多年学到的一个教训是，没有哪一种工具能够统治世界。人们总是认为早期领先的东西就是唯一会被使用的——这从来不是真的。”在多次被要求解释公司支出时，Jassy 承认如果将支出分摊到未来 25 年会“更方便”。他补充道：“但这不是我们所处的世界。”
"One of the lessons we've learned over 20-plus years is that there is not one tool to rule the world," Jassy said. "People always assume whatever is in the lead early on will be the only thing that people use - it's never true." As Jassy was asked several times to explain the company's spending, he admitted it "would be more convenient" if it were spread over the next 25 years. "That's not the world we live in," he added.
“我们可以为这项计划提供资金，我认为这将永远改变亚马逊的规模、收入和自由现金流。”华尔街对微软更新的反应相对平淡，周四股价下跌幅度不足1%。
"We can fund this plan, and I think it will forever change the size, the revenue, the free cash flow of Amazon." Wall Street's reaction to Microsoft's update was more muted, with shares falling by less than 1% on Thursday.
该公司也是OpenAI的最大投资者之一，在专门用于人工智能的投资上支出减少了约50亿美元。本周早些时候，该公司还透露了裁员数千人的计划，这将进一步降低公司成本。
The company, which is also one of OpenAI's largest investors, spent around $5bn less on investments dedicated to AI. It also revealed earlier this week plans to cut thousands of workers which will further reduce the company's costs.
与此同时，其收入较去年同期增长19%，本季度达到923亿美元。其关键的云业务增长30%，达到630亿美元。
Meanwhile, its revenue grew 19% from a year earlier, hitting $92.3bn for the quarter. Its crucial cloud business grew by 30% to $63bn.
首席执行官萨提亚·纳德拉表示，微软的人工智能聊天机器人和工具Copilot的使用情况显示，“自7月以来自动化任务几乎翻了一番”，日活跃用户较去年同期增长了500%。通常，支出减少和销售增长会获得投资者的积极反应。
Chief executive Satya Nadella said the use of Copilot, Microsoft's AI chatbot and tool, has seen "automated tasks nearly double since July" as daily users grew by 500% from a year ago. Usually lower spending and growing sales earns a positive reaction from investors.
但伍表示，在哪些企业能真正兑现其关于人工智能的宏大承诺方面，华尔街正试图更长远地展望未来。
But Woo said Wall Street is trying to look farther into the future when it comes to which businesses will truly make good on their big promises around AI.
“微软的业绩表明，企业对人工智能的需求依然强劲，但也凸显了科技行业面临的一个更大问题，即人工智能的价值最终将由谁捕获，”伍说。
"Microsoft's results reinforce that enterprise demand for AI remains strong, but they also highlight a much bigger question facing the technology industry, where AI value will ultimately be captured," Woo said.