Property listing website Rightmove has seen its shares plummet after revealing plans to step up investment in artificial intelligence (AI).
Rightmove cut its profit growth forecasts for next year to reflect plans for higher investment in AI as well as other changes intended to increase returns.
The company's chief executive, Johan Svanstrom, said AI was "becoming absolutely central" to the running of the business and its plans for the future.
But investors were less enthusiastic, and Rightmove's shares had sunk by more than a quarter at one point on Friday.
Rightmove announced plans to invest £60m over the next three years and a large part of this investment will focus on AI.
