"Applovin's stock fell on generalized fear over two new innovations in the mobile game world. Late last week, Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) unveiled Project Genie, an AI-powered tool that allows users to create virtual worlds. Second, a new AI-based digital advertising start-up, CloudX, became generally available, posing a potential competitive threat to Applovin's mobile game advertising engine."
"The weakness in gaming-related stocks began last Friday, the day after Google rolled out Project Genie to Google AI Ultra subscribers. Virtually all video gaming-related stocks fell in unison after the unveiling, and Applovin got caught up in the sell-off."
Applovin's stock plunged about 14.9% during the week as investors reacted to two new AI innovations in the mobile gaming space. Alphabet unveiled Project Genie, an AI tool that enables users to create virtual worlds, and AI-based ad startup CloudX launched a product that could compete with Applovin's ad engine. Applovin sold its video game development business in June 2025 to focus exclusively on its digital advertising engine. Gaming-related stocks fell in unison after Project Genie rolled out to Google AI Ultra subscribers. The actual competitive impact on mobile game ad delivery remains highly uncertain.
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