Google owner Alphabet lost just over $500bn (£374bn) in value after it revealed its artificial intelligence (AI) summaries on search were affecting ad revenue.

While their total revenue grew by 25% compared to last year, Google’s stock hit a six-month low on Thursday, falling by almost 13%.

Shares in Amazon and Microsoft also took a hit, but both tech giants joined Google in plans to continue investing in an ongoing AI race.

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