According to CoinMeta, Google's search business is being eroded by artificial intelligence. The stock price of Alphabet plummeted by nearly 10% in after-hours trading due to search revenue not meeting expectations. Although users are asking Google more questions, more searches do not necessarily mean more revenue. Google's advertising engine relies heavily on paid clicks, with advertisers competing for ad spots and Google earning revenue when users click on ads. In the second quarter, paid clicks increased by 13%, while the average revenue per click only increased by 3%. Artificial intelligence has completely changed this process; users can now ask questions directly and get answers without having to go through clickable links in search results. Google has begun to display ads in AI mode, but management says that the lower monetization capability is putting pressure on search growth. The advertising model is still adapting to the way users use AI. Nevertheless, search revenue still grew by 12%, and Google says query growth reached its fastest pace in five years. Google now faces the key challenge of converting its surging AI usage into advertising revenue without damaging the profitability of its search business.