Google Shares Drop 4% After DeepMind Shake-Up Sends 3 Top AI Leaders Into New Roles
Updated
Updated · Yahoo Finance · Aug 5
Google Shares Drop 4% After DeepMind Shake-Up Sends 3 Top AI Leaders Into New Roles
3 articles · Updated · Yahoo Finance · Aug 5
Summary
Google stock fell nearly 4% after the company overhauled DeepMind, moving CEO Demis Hassabis to chair of DeepMind and chief scientist for all of Alphabet.
Koray Kavukcuoglu, DeepMind CTO and Google's chief AI architect, will become DeepMind senior vice president and report directly to Alphabet CEO Sundar Pichai.
Jeff Dean and Sanjay Ghemawat are also leaving Google to launch Discovery Loop, a public benefit corporation focused on automating machine learning, science and engineering.
The reshuffle lands despite strong AI momentum: Google's latest quarterly AI-related sales jumped 82% year over year to $24.77 billion, beating the $24.56 billion analysts expected.
It also comes as Google works through AI execution issues, including a reported July delay to Gemini 3.5 Pro and a higher 2026 capital-spending plan of $195 billion to $205 billion.