About 14 months ago shares of Google were trading at $146, down from a high of $207 just three months earlier on fears that it was floundering in the AI race.
Back in 2023 it was a similar story as it had fallen to $85 from $150 on fears that AI would replace search
Now we’re here again with shares down to $345 from $404 but in some ways this round of worries is even bigger. The problem for Google can be summarized in one word: Talent. The market saw on the weekend that two high-profile names departed Google for rivals.
John Jumper, who led AlphaFold and won the 2024 Nobel in Chemistry, is leaving Google DeepMind after 9 years to join Anthropic. He was the vice president and engineering researcher at Google DeepMind. He posted: A bit of news: After nearly 9 years, I have decided to leave Google DeepMind and join Anthropic (after taking some time to recharge).