Google stock falls 4% as Demis Hassabis steps down in DeepMind leadership shake-up

Google shares fell nearly 4% after the company announced major leadership changes in its AI-focused DeepMind division. Alphabet’s Class C (GOOG) stock was trading at $361.58 with Class A (GOOGL) stock trading at $364.67. Despite Wednesday’s drop, Google shares are still up 86% over the past year and 15% year to date.

Google’s stock has been supported by strong AI growth, with AI-related revenue rising 82% year over year in its latest quarter.