Alphabet stock nears 1-year low
Alphabet's stock, the parent company of Google, declined by more than 7%, marking its worst daily performance in a year amid fears about the future returns on AI technology investments. This decline follows the departure of key scientists and developers, including DeepMind Vice President John Jumper, who is regarded as one of the leading AI experts and a Nobel laureate. Additionally, Microsoft's CEO Satya Nadella's comments, warning of narrowing profit margins for AI models, affected investor sentiment, as companies compete to capitalize on the growing market.
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