"Alphabet and Microsoft Reports Cause $190 Billion Market Cap Drop for AI Companies"

AI-related companies lost $190 billion in market value after Microsoft, Alphabet, and Advanced Micro Devices reported quarterly results that failed to meet investor expectations. Alphabet's ad revenue missed targets, and its increased spending on data centers highlighted competition with AI rival Microsoft. While Microsoft beat revenue estimates with new AI features, its stock fell in extended trade. Advanced Micro's forecast also missed estimates, and Nvidia and Super Micro Computer saw declines in extended trade after benefiting from AI-related demand.