Alphabet Inc Class CLeadership reshuffle and missed deadlines weigh on Alphabet shares, which fell 4%.

Demis Hassabis, the Nobel Prize-winning co-founder of Google DeepMind, is stepping down from running the AI lab day-to-day, becoming its chairman and taking on a new role as Alphabet Inc.'s chief scientist. Koray Kavukcuoglu, DeepMind's US-based chief technology officer, takes over operations as senior vice president reporting directly to CEO Sundar Pichai, without the CEO title. The same week, longtime chief scientist Jeff Dean left along with three other senior researchers to launch a new startup called Discovery Loop. Alphabet shares fell 4% on the news, and the reorganization lands as Gemini 3.5 Pro has missed three release deadlines while rivals Anthropic and OpenAI keep shipping. Alphabet was held by 265 hedge funds as of Q1 2026, down from 288 the prior quarter.
Alphabet Inc Class CLeadership reshuffle and missed deadlines weigh on Alphabet shares, which fell 4%.
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