Jun 23, 2026
negativeAlphabet (GOOG) Drops 7%, Loses $269B in Market Cap — Gemini Co-Lead Defects to OpenAI, Nobel Laureate Exits to Anthropic
Alphabet shed approximately $269 billion in market capitalization Monday — its largest single-day dollar loss on record — after Gemini co-lead Noam Shazeer announced a departure to OpenAI and Nobel Prize-winning DeepMind VP John Jumper disclosed his move to Anthropic, both within days of each other. The dual exodus raises pointed questions about Alphabet's ability to generate competitive AI returns on its $180 billion to $190 billion 2026 capital expenditure plan.