Alphabet shares fell 8% on Wednesday as investors balked at the Google parent's slowing cloud growth and planned $75 billion capital spending for the year, underscoring growing fears over Big Tech's escalating artificial intelligence costs.

Alphabet shares dropped after the search giant fell short of Wall Street's fourth-quarter revenue expectations and announced big spending plans

The internet giant reported cloud sales that narrowly missed Wall Street’s estimates, worrying investors about the company’s A.I. business.

Alphabet shares fell 7.3% in Frankfurt on Wednesday a day after the company reported quarterly earnings that showed cloud revenue growth slowed and missed analyst expectations. Shares in the company dropped over 8% in extended trading on Tuesday following the results,

Alphabet shares fell as much as 9% in after-hours trading Tuesday after the company reported fourth-quarter results that missed on revenue expectations. The company also announced that it plans to invest $75 billion in capital expenditures in 2025 as it continues to expand on its artificial intelligence strategy.