Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeInformation TechnologyNewsAlphabet shares drop after second AI star departs for rivalThe departure of Nobel Prize winner John Jumper comes as Google has struggled to sell AI coding tools to businessesAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.Alphabet’s drop comes amid broader weakness in other megacap tech stocks with a Bloomberg index tracking the so-called Magnificent Seven falling as much as 2.2 per cent on Monday. Photo by David Paul Morris/BloombergAlphabet Inc. shares tumbled on Monday following the departure of another high-profile artificial intelligence leader to a rival.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe stock fell as much as 7.2 per cent, the most intraday since February, after Google DeepMind Vice President John Jumper said over the weekend he was leaving for Anthropic. Last week, one of Google’s most prominent researchers, Noam Shazeer, announced he was leaving for OpenAI.The departure of Jumper, a key member of Google’s AI coding development team, comes as Google has struggled to sell AI coding tools to businesses, according to former employees. It’s also an area that has driven momentum for Anthropic and OpenAI in recent months.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try again“OpenAI and Anthropic are increasingly the dominant frontier firms in the United States and seem to be pulling away from models and coding tools from Google, Meta, and xAI,” Adam Crisafulli, founder of newsletter Vital Knowledge, wrote on Sunday. Jumper’s departure “is not helping Google,” he said. A trader works on the floor at the New York Stock Exchange (NYSE) in New York, US, on Monday, June 1, 2026.Alphabet’s drop comes amid broader weakness in other megacap tech stocks with a Bloomberg index tracking the so-called Magnificent Seven falling as much as 2.2 per cent on Monday. Amazon.com Inc. was down as much as 4.9 per cent while Meta Platforms Inc. and Microsoft Corp. both fell more than two per cent.Jumper won the 2024 Nobel Prize alongside DeepMind chief executive Demis Hassabis for creating an AI model that can predict the structure of proteins called AlphaFold. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.