Alphabet shares plunged 6.8%, erasing over $256 billion in market value after two top AI researchers, Noam Shazeer and Nobel laureate John Jumper, departed for OpenAI and Anthropic. The drop was compounded by a 10% decline in SpaceX, in which Alphabet holds a nearly 5% stake.
On June 22, Alphabet shares fell 6.8%, one of the steepest single-day declines since May 2025, wiping out more than $256 billion in market capitalization as investors reacted to talent losses and external pressures. This sell-off positioned Alphabet among the worst-performing megacaps for the session.
Two high-profile AI figures exited within days: Noam Shazeer, co-lead of Gemini AI models, joined OpenAI after returning to Alphabet in 2024, while Nobel laureate John Jumper left DeepMind after nine years to join Anthropic. Their departures raise questions about Alphabet’s ability to retain frontier AI talent amid fierce competition.
Alphabet’s nearly 5% stake in SpaceX exacerbated losses as SpaceX shares slid 10% following a post-IPO selloff. The combined impact of this external investment decline added to Alphabet’s broader market retreat.
Youtube
