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Alphabet Has Shed Roughly $700B in Market Value Since May as AI Spending, a Departed Top Scientist and Gemini Delays Compound
Semafor reported August 27 that Alphabet is down more than 15% from its May peak, erasing about $700 billion, attributing the slide to mounting AI bills without a corresponding breakthrough, the departure of its top scientist, a key AI researcher moving to a different role, and delays to the newest Gemini model. The piece notes co-founder Sergey Brin's return to operations as part of a restructuring response. This is a single-source framing and the article gives no capex figures.
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