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At the close: Nasdaq sags as Google falls more than 4%
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A main loser on the day was Google, which fell more than 4% and was a big reason the Nasdaq Composite was down 0.9% on the day.
Google fell after it was announced that AI wizard Demis Hassabis is stepping away from the day-to-day management of Google DeepMind to become Alphabet’s chief scientist and DeepMind chairman.
Longtime Google AI leader Jeff Dean, along with several other senior researchers, is leaving to create a new AI venture called Discovery Loop.
The fear is that these moves are coming after some sort of stumble in AI development at Google.
On the upside, shares of Nvidia had a strong day, climbing 3.8% in the fifth consecutive day of gains.