Politics
The AI trade's trick-or-treat earnings season
Axios·October 31, 2026·1 min read
The Nasdaq briefly fell into correction territory, dropping 10% from its peak and losing $1.2 trillion in October, as hyperscaler earnings revealed AI risks. Google lost over $500 billion in market value post-earnings as AI overviews cannibalize search ad revenue, but Google Cloud is closing in on Microsoft's Azure.
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