Alphabet Shares Plummet After Senior Leaders Exit in AI Overhaul
Alphabet's (GOOGL) shares fell by approximately 4% after the company announced significant leadership changes at Google DeepMind. Demis Hassabis, co-founder of DeepMind and former CEO, will step down from day-to-day management to become Alphabet's chief scientist and chairman of Google DeepMind.
Hassabis stated that his decision was influenced by the growing importance of artificial general intelligence (AGI) research and strategy. He emphasized that he wants to focus more directly on AGI and its long-term implications, which Sundar Pichai described as 'vitally important to Alphabet and humanity.'
Koray Kavukcuoglu, currently Google DeepMind's chief technology officer, will take over day-to-day leadership of the unit as senior vice president. He will continue serving as Alphabet's chief AI architect.