Google announces CEO Demis Hassabis will step aside in AI shake up that sends share price plunging

Alphabet, Google’s parent company, has announced sweeping changes in its artificial intelligence division that sent its share price plunging.The restructure will see AI chief Demis Hassabis step back from his primary managerial role and several key leaders of its Gemini model, including veteran engineer Jeff Dean, depart the company. The news sent Alphabet shares down 4 per cent.The shakeup arrives at a critical moment for Google DeepMind. Its flagship Gemini model remains unreleased despite an anticipated June launch, fueling concerns among investors and industry observers that Google is losing ground to rivals like Anthropic and OpenAI, both of whom recently recruited prominent Google AI talent.Demis Hassabis, a Nobel Prize recipient, will transition from Google DeepMind CEO to its chair