Koray Kavukcuoglu is appointed CEO of DeepMind, succeeding cofounder Demis Hassabis who becomes chair of the organization. He inherits intense pressure to close the AI performance gap as OpenAI and Anthropic released new frontier models in 2026, while Google hasn’t unveiled a frontier model since early 2026. Coding is identified as a key area where Anthropic and OpenAI are « miles ahead » of Google, and the release of Gemini 3.5 Pro was delayed to improve performance in this domain. Alphabet shares dropped in July after the delay was reported, even though the stock has risen around 76% in the last 12 months. Nearly 90% of Fortune 100 companies use Gemini Enterprise, highlighting Google’s commercial strength in AI despite its technological lag.
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