Google hasn’t figured out how to make AI pay like its search engine

What happened: Alphabet said search queries are growing at their fastest rate in five years, but Google's Search revenue growth slowed in the third quarter, and growth in paid clicks also slowed. Key numbers: Search revenue growth slowed to 12 percent year over year in Q3, down from roughly 17 percent the previous quarter. Paid click growth slowed from 13 percent to 8 percent. Why it matters: The slowdown comes as investors look for returns on the company's planned infrastructure spending, largely aimed at supporting AI.

Alphabet said search queries are growing at their fastest rate in five years, but Google's Search revenue growth slowed in the third quarter, and growth in paid clicks also slowed.

The slowdown comes as investors look for returns on the company's planned infrastructure spending, largely aimed at supporting AI.