Key TakeawaysAlphabet stock plummeted more than 6% on Monday following the departure of a prominent AI scientist from Google DeepMind to AnthropicThe departing researcher is John Jumper, a Nobel Prize laureate in chemistryThe Nasdaq Composite declined approximately 1%, while the Dow Jones gained 0.4% and the S&P 500 dipped 0.3%Major tech stocks including Amazon, Meta, and Microsoft each lost 2% or more in sympathyAlphabet faced a potential market capitalization loss of approximately $299 billion — which could mark its largest single-session decline everShares of Alphabet experienced a dramatic downturn Monday following reports that a prominent artificial intelligence researcher departed Google’s DeepMind division to join competing firm Anthropic.The scientist in question is John Jumper, a distinguished senior research scientist and Nobel Prize recipient. The departure was initially reported Friday, when American equity markets were shuttered for a public holiday.Tech Giant’s Shares Lead Industry DeclineAlphabet stock tumbled over 6% during Monday’s trading session. At its lowest point, the technology giant was tracking toward approximately $299 billion in erased market capitalization. Such a decline would represent the company’s most significant one-day loss in its history and rank as the fifth-largest single-session market cap evaporation for any American corporation, based on Dow Jones Market Data analysis.Alphabet Inc., GOOGLThe downturn rippled throughout the technology sector. Amazon, Meta Platforms, and Microsoft each declined 2% or more. Among the Magnificent Seven stocks, only Tesla and Apple managed to post gains during the session.The Roundhill Magnificent Seven ETF declined 1.7%. The iShares Expanded Tech-Software Sector ETF retreated 1%. Meanwhile, the iShares Semiconductor ETF defied the broader trend, maintaining gains of approximately 2%.Overall Market PerformanceThe Nasdaq Composite index fell roughly 1% during Monday’s session. The S&P 500 declined 0.3%. The Dow Jones Industrial Average, which doesn’t count Alphabet among its components, climbed approximately 183 points, representing a 0.4% advance.Investors were simultaneously monitoring diplomatic developments between the United States and Iran. Iranian officials announced Monday that “encouraging progress” had been achieved during negotiations held in Switzerland, with parties agreeing to a framework for finalizing an agreement within 60 days.This development alleviated concerns surrounding President Trump’s warnings of potential military action should Iran fail to restrain Hezbollah’s activities targeting Israel.Oil prices retreated on the diplomatic news. Brent crude declined roughly 3% to settle just above $77 per barrel. West Texas Intermediate crude dropped to approximately $73 per barrel.In separate news, Alan Greenspan, who previously served as Federal Reserve Chairman, passed away at age 100. Greenspan headed the central bank for approximately two decades.Market participants are also anticipating the May release of the Personal Consumption Expenditures price index. This economic indicator will provide fresh insights into inflationary pressures as the Federal Reserve continues its cautious approach to monetary policy.Meanwhile in South Korea, SK Hynix surpassed Samsung to claim the position of the nation’s most valuable publicly traded company, underscoring rising appetite for memory chip manufacturers linked to artificial intelligence expansion.SpaceX stock continued its decline for a third consecutive session, contributing additional headwinds to the technology sector.Jumper’s move to Anthropic represents the latest development in the fierce battle among major technology companies to secure elite artificial intelligence researchers.The post Alphabet (GOOGL) Plunges 6% as Nobel Laureate Exits DeepMind for Anthropic appeared first on Blockonomi.