Alphabet shares take $120 billion blow as search warnings blare

For more than a year, Alphabet Inc. shareholders have fretted over long-term risks posed by artificial intelligence to the company’s money-printing search business. This week the threat became much more immediate.Court testimony from an Apple Inc. executive on Wednesday revealed that the iPhone maker is exploring adding AI services to its web browser for which Google now pays an estimated $20 billion a year to be the default search engine. Potentially more worrisome: searches on Apple’s Safari fell for the first time last month, according to Eddy…