Instead, pressAlt+Searchand you’ll see a notification that caps lock is on.

PressAlt+Searchagain to turn caps lock off.

Change your keyboard shortcuts as appropriate.

The search key on the Chromebook keyboard.

Lifewire / Jeremy Laukkonen

However, while the Caps Lock key may be gone, the functionality is still there.

It’s just hidden insideChrome OS.

Caps Lock pop-up notification on a Chromebook

The Chromebook Device option in Settings.

The Chromebook Keyboard Option.

The option to make the Search Key default to Caps Lock on a Chromebook.