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Google delivered an AI stunner. Its shares crashed anyway

The Australian Financial Review (AFR) •
October 28, 2026 • 11:33 PM
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The share price plunge of its parent company is a reminder that doubts about the boom keep building, despite signs of improving returns from Alphabet and Microsoft.

Google delivered an AI stunner. Its shares crashed anyway

At first glance, it was the moment artificial intelligence bulls have been waiting for.

First, the Federal Reserve left official US interest rates on hold , and chairman Kevin Warsh delivered a press conference performance so baffling that anyone predicting the next move in rates was guessing.

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