Asian shares fall as Alphabet earnings miss drags Wall St futures lower

What happened: Asian shares gave up earlier gains as AI-related earnings drew mixed reactions, with Alphabet falling 10 per cent in after-hours trading and dragging Nasdaq futures lower. Key numbers: Alphabet lost nearly US$400 billion in market value; Nasdaq futures fell 1 per cent; Microsoft rose 3 per cent; Samsung operating Why it matters: VanEck's Jamie Hannah said Alphabet's ad revenue was hit by the AI boom, while Alphabet and Microsoft confirmed AI revenue generation remains solid through data center and cloud growth. Markets remain 80 per cent priced for a December rate rise. Coverage: 4 outlets in 24h

Asian shares gave up earlier gains as AI-related earnings drew mixed reactions, with Alphabet falling 10 per cent in after-hours trading and dragging Nasdaq futures lower.

VanEck's Jamie Hannah said Alphabet's ad revenue was hit by the AI boom, while Alphabet and Microsoft confirmed AI revenue generation remains solid through data center and cloud growth. Markets remain 80 per cent priced for a December rate rise.