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

Google parent Alphabet Inc.’s shares dropped after slower growth in its cloud business contributed to lower-than-expected revenue in the fourth quarter. Quarterly sales, excluding partner payouts, were $81.

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 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.