BUZZ-Alphabet shares set for worst day in over a year after results

Shares of Alphabet GOOGL.O slump 8.3% to $189.31 - set for worst day since Oct. 2023 after cloud growth concerns, heavy capital expenditure plans unnerve investors

Google-parent reports lower-than-expected Q4 cloud revenue, and plans to spend $75 billion on its AI build-out

Analysts had forecast capex spending of about $58 billion, as per estimates compiled by LSEG

Shares fall to lowest intraday level in nearly one month

At least 10 brokerages cut PT on stock, while at least 2 hike it; median PT is now $217.06 - LSEG

Google also announces updates to Gemini large language AI models, including new line with cheaper pricing

If day's losses hold, GOOGL shares will erase nearly all its gains for this year