Alphabet shares fell more than 5% on June 22, allowing Apple to overtake Google's parent company in market value.
Alphabet shares dropped 5.08% to close at 348.78 dollars. This reduced its market capitalization to 4.25 trillion dollars, below Apple's 4.36 trillion.
The decline followed the departure of two key Artificial Intelligence executives. Noam Shazeer, vice president of engineering and co-leader of Gemini, joined OpenAI on June 17. John Jumper of DeepMind and co-creator of AlphaFold left for Anthropic on June 19.
Nvidia held the top spot at 5.05 trillion dollars, though its shares also declined along with those of Microsoft and Amazon. The session hit several major U.S. technology firms.
