New Delhi, Oct. 29 -- Shares of Alphabet, the parent company of Google, crashed 13% in Thursday's trade on October 29, falling to an intraday low of $280 apiece, as Wall Street was disappointed with the company's September-quarter performance, particularly in its core search advertising business, while its cash burn extended into the second quarter.

If sustained through the close, the decline would mark the stock's worst single-day drop since it began trading more than 20 years ago. Google and other hyperscalers have been burning cash to build AI infrastructure, and the results have underscored concerns over whether their massive investments in artificial intelligence (AI) technology will pay off.

Concerns are mounting that the AI revol...