Shares of technology companies slid after disappointing earnings from one major Silicon Valley firm.

Alphabet shares tumbled after the Google parent posted a disappointing third-quarter growth rate at its cloud-computing unit, dashing hopes that AI products would boost revenue.

Microsoft shares rose after the software giant's revenue growth was bolstered by artificial-intelligence offerings.

Amazon.com incurred its biggest loss in about eight months amid fears that its Amazon Web Services unit would suffer a similar fate. Shares of other chip makers such as GSI Technology fell in sympathy.

Apple raised the monthly price of its TV streaming service to $9.99, joining Netflix, Disney and other companies that have recently increased prices.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

10-25-23 1807ET