In the third quarter, Meta's advertising revenue grew by 26% year-over-year to $63.1 billion, while Google's search revenue increased by 12% year-over-year to $63.4 billion. Meta's ad revenue growth rate was more than double that of Google Search, with a revenue gap of 14 percentage points, reaching a new high since 2021. AI investments are bringing Meta better ad targeting tools, while Google Search faces the challenge of being replaced by chatbots. Alphabet, Google's parent company, saw its stock price plummet over 12% after its third-quarter earnings report, wiping out approximately $500 billion in market value.