In Alphabet's across-the-board earnings miss , one segment stood out above all else: search.

Revenue in the search and other segment grew 12% from a year ago to roughly $63 billion, but came in below estimates for the second straight quarter. At the same time, Google said search query growth on the platform was the strongest it's been in five years.

The gap between usage and revenue within the search giant's flagship business is becoming harder to dismiss as more people turn to artificial intelligence bots and agents, including tools offered by Google. Since the early days of ChatGPT, analysts have predicted that traditional search will get eclipsed by AI, and warned that Google will have to figure out new ways to make money. While search remains a massive business, early signs of a shift are appearing.

"These things are going to be a force," Deepwater Asset Management's Gene Munster told CNBC's " Fast Money " after the earnings report, referring to new AI-powered services.…