Demis Hassabis Leaves DeepMind CEO Role, Sending Alphabet Shares Down 4%
Updated
Updated · Semafor · Aug 5
Demis Hassabis Leaves DeepMind CEO Role, Sending Alphabet Shares Down 4%
3 articles · Updated · Semafor · Aug 5
Summary
A year-in-the-making transition moved Demis Hassabis out of DeepMind’s top job on Wednesday, with Koray Kavukcuoglu already taking over much of Gemini’s day-to-day development and consumer AI execution.
Hassabis was not forced out, according to people familiar with the move; the 2024 Nobel winner had grown dissatisfied with executive management and wanted to focus on science, AI safety and Isomorphic Labs.
Alphabet shares fell 4% after the change, which also coincided with chief scientist Jeff Dean’s departure and renewed questions about Google’s position in the AI race.
Google’s latest results showed revenue up 24% to $120 billion and cloud revenue up 82%, but record capital spending pushed free cash flow negative for the first time since its 2004 IPO.
The reshuffle also sharpens concerns over AI talent retention after John Jumper left for Anthropic, even as Google argues the new structure will speed product development around Gemini 4.