Google Struggling to Make AI Mode Searches Pay

Alphabet shares fell nearly 10% after Google disclosed that searches through its AI Mode generate less revenue than traditional search, even as overall search revenue grew 12% year over year to $63.25 billion. The Register reports: Alphabet on Wednesday reported its Q3 results, which included news that its year-over-year search query growth rate is the highest it's been in the last five years. Some of that growth comes from users adopting "AI Mode" -- Google's latest LLM-powered search system. Google's revenue from search rose 12 percent year-over-year to $63.25 billion, a little lower than the 14.5 percent growth the company reported in last year's Q3.