According to CoinMeta, Google's financial report for the third quarter of 2026 showed that its capital expenditures reached $51.36 billion, exceeding its operating cash flow of $4.229 billion, resulting in a negative free cash flow of $9.07 billion. Despite Google achieving record revenue in the cloud computing sector and its operating profit exceeding $40 billion, its stock price plummeted by about 12% on October 29th. Analysts pointed out that investors' concerns regarding Google's infrastructure investments and future cash returns have intensified, especially against the backdrop of the expansion of artificial intelligence. Google Cloud's revenue doubled to $30.71 billion, but search revenue only increased by 12%, raising doubts in the market about AI driving search advertising revenue.