Alphabet Inc Class CAlphabet invests in Discovery Loop and reports strong Q2 earnings, but shares fell 4%.

Google's chief scientist Jeff Dean and three other senior AI researchers have left the company to found Discovery Loop, a public benefit corporation aiming to automate scientific and engineering research with AI. Alphabet is a founding investor in the new venture and will serve as its cloud partner. The departing team includes Sanjay Ghemawat, a Google senior fellow; Oriol Vinyals, co-lead of the Gemini models; and Quoc Le, a founding member of Google Brain. CEO Sundar Pichai announced that Demis Hassabis will become Alphabet's chief scientist and chair of Google DeepMind, while Koray Kavukcuoglu takes over day-to-day operations of the unit and leads development of Gemini 4. Alphabet's second-quarter revenue rose 24% year over year to $119.8 billion, with Google Cloud revenue surging 82% to $24.8 billion, though shares fell about 4% on the news.
Alphabet Inc Class CAlphabet invests in Discovery Loop and reports strong Q2 earnings, but shares fell 4%.
New company founded with Alphabet investment and cloud partnership.
Leadership changes at DeepMind with Hassabis becoming chief scientist, but impact unclear.