Some of the biggest players in an industry that has fueled Austin’s economic boom — the high-tech sector — are in the crosshairs of regulators, with Texas Attorney General Ken Paxton and a bipartisan coalition of most of his national counterparts firing the latest salvo Monday against internet search giant Google.

Paxton, flanked by attorneys general from around the country outside the U.S. Supreme Court building in Washington, announced an investigation into potentially anti-competitive practices in Google's advertising business, saying the investigation will start there but could branch out into data privacy and other areas because "the facts will lead where they lead."

Attorneys general from 48 states and Washington, D.C., as well as U.S. territory Puerto Rico, have signed on to take part in the Google investigation, Paxton said. California and Alabama are the only holdouts.

Google and fellow tech heavyweights Amazon, Apple and Facebook all have been under increased scrutiny from regulators, both in the U.S. and globally, based on concerns about the reach they have into everyday lives of consumers and their potential to unfairly undermine smaller technology companies and stamp out competition.

All four are significant players in Austin's vibrant tech sector, collectively employing more than 11,000 people in the metro area. Last year, jobs in the local high-tech sector grew by 6.6%, according to a recent report from the Greater Austin Chamber of Commerce, nearly double the metro area’s total job growth rate of 3.6%.

Still, the group of attorneys general that announced the Google investigation Monday said the probe "isn't anti-tech." Instead, they said, it will "level the playing field" by potentially squelching business practices that could be handcuffing small innovators.

“There is nothing wrong with a business becoming the biggest game in town if it does so through free market competition," Paxton said. "But we have seen evidence that Google’s business practices may have undermined consumer choice, stifled innovation, violated users’ privacy, and put Google in control of the flow and dissemination of online information."

The internet is "the most important source of information in Americans’ day-to-day lives," he said. "When most Americans think of the internet, they no doubt think of Google.”

Florida Attorney General Ashley Moody noted that the investigation will begin with Google's online advertising sales — where it reaps the bulk of its revenue — but could grow to include the company's acquisition and stewardship of consumer data, as well as its dominating internet search engine that potentially controls "what we share, see and pay."

A Google spokesperson declined to comment on Monday, instead directing the American-Statesman to a company blog post last week, written when initial reports of the pending investigation first surfaced.

A Google executive said in the post that the company was aware of the investigation, and he also said that the federal government recently asked it for information related to previous anti-trust probes, signaling that a separate federal look into its business practices is underway as well.

"The (U.S. Department of Justice) has asked us to provide information about these past investigations, and we expect state attorneys general will ask similar questions," Kent Walker, a Google senior vice president, wrote in the blog post. "We have always worked constructively with regulators and we will continue to do so."

Overall, he said, "we look forward to showing how we are investing in innovation, providing services that people want, and engaging in robust and fair competition."

On Friday, a smaller group of attorneys general, led by New York Attorney General Letitia James, announced an investigation into Facebook for potential antitrust violations. Paxton isn't among the nine attorneys general participating in that investigation.

President Donald Trump has called for scrutiny of internet search and social media companies, accusing them of bias against him and his supporters, and he vowed over the summer to explore “regulatory and legislative solutions.”

Shares of Google parent Alphabet Inc. closed down 52 cents Monday, or less than 1%, at $1,204.41. Facebook shares closed up about 1.3%, at $188.76.