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Ruth Porat, chief financial officer of Alphabet Inc., speaks during a news conference at Michigan Central Station in Detroit, Michigan, on Friday, Feb. 4, 2022.

Jeff Kowalsky | Bloomberg | Getty Images

A string of Google executives have changed their roles in the span of several months, in a shift that has sidelined many of company’s remaining old guard.

The changes encompass high-profile executives such as finance chief Ruth Porat, YouTube CEO Susan Wojcicki and employee No. 8, Urs Hölzle, among others. Some say they have left their roles for a new challenge and others have left to seek opportunities in artificial intelligence.

In February, Wojcicki — one of the most prominent women in Silicon Valley — announced that she was stepping back after nine years at the helm of the Google-owned platform that grew to be the world’s most popular video service. She had been at Google for more than 25 years, after famously lending her garage to Google founders Sergey Brin and Larry Page to use as their first office.

While she’ll still be in an advisory role at Google, she said she wanted to “start a new chapter.”

Wojcicki wasn’t the only executive to leave YouTube. Robert Kyncl, the chief business officer for 12 years, stepped away to become CEO of Warner Music Group at the beginning of the year. 

In March, CapitalG founder and longtime Google employee David Lawee stepped down from his role after 17 years at Alphabet, saying he wanted to explore new areas of interest and spend more time with his family.

Hölzle, who has long overseen Google’s technical infrastructure and was its eighth employee, said he would be stepping back from management after 24 years of leading technical teams, CNBC reported in July. Hölzle will be classified as an “individual contributor,” which means he will be working independently and no longer managing employees. 

Also in July, Porat announced that she will step down as Alphabet‘s chief financial officer after eight years and take a new role as president and chief investment officer. When asked about the timing of the move, Porat, who was previously Morgan Stanley‘s CFO, said she wanted to take on a different set of challenges.

Porat will also be engaged with policymakers to “recognize the importance of technology” and on issues including employment, economic, competitiveness and infrastructure expansion,” the company said.

“We have a steady and experienced leadership team, many of whom have been with the company for well over a decade, ” said Google spokesperson Courtenay Mencini in statement about the shifts. “We also have a strong bench of leaders at Google who can smoothly transition when people who’ve had long and successful careers here decide to pursue new opportunities inside and outside the company.”

Searching for itself in an AI-first world

As Google looks for replacements for executives like Porat, it’s also searching for its own identity in a pivotal moment in the company’s history.

The company was caught flat-footed last fall when OpenAI launched its AI-powered chatbot ChatGPT, and suddenly found itself in a rare spot where its core search business was threatened.

Industry observers wondered if users could simply get answers from an AI-powered chatbot, how long would they keep entering queries into a search engine? It was an ironic moment for the search giant, given that CEO Sundar Pichai had been talking up the company’s “AI-first” strategy since 2016, with little to show externally.

In June, Google execs admitted to employees that users are “still not quite happy” with the search experience, CNBC reported. Search boss Prabhakar Raghavan and engineering VP HJ Kim spent several minutes pledging to do a better job to employees while Pichai noted that it’s still the most trusted search engine.

Geoffrey Hinton, known as “The godfather of AI” and one of the most respected voices in the field, told The New York Times in May that he was leaving the company after a decade to warn the world about the potential threat of AI, which he said is coming sooner than he previously thought. 

Shortly before that, amid a reorganization in Google’s AI teams, the company promoted the CEO of its DeepMind subsidiary, Demis Hassabis, to lead AI for the entire company, and former McKinsey exec James Manyika to become Google’s senior vice president of technology and society and to oversee Google Research.

Google’s AI head, Jeff Dean, who’s been at the company since 1999, became a chief scientist as part of the change. The company called it a promotion, but it effectively took him out of a large leading role in AI to be an individual contributor, reportedly helping oversee Gemini, one of its critical large language models.

The company is also cutting costs, another rarity, while the core search product faces changing user behavior, ad pullbacks and an AI boom that requires increasing investment, all amid a slowing economy and investor calls to reduce spending.

It’s also staring down multiple federal lawsuits, including an imminent antitrust trial set to begin in September that alleges Google illegally maintained a monopoly by cutting off rivals from search distribution channels.

More like other big companies, some employees say

Employees’ perceptions of the company have also changed in recent years.

While potential employees still consider Google a top place to work with extremely competitive perks, it has grown to be more bureaucratic than in its earlier days.

This perception shift has created a “fragile moment” for Google amid the pressure from OpenAI and Microsoft, argued former Google employee Praveen Seshadri in a Medium post that went viral earlier this year.

“I have left Google understanding how a once-great company has slowly ceased to function,” wrote Seshadri in his blog post that detailed the challenges of Google’s growing bureaucracy.

“Like mice, they are trapped in a maze of approvals, launch processes, legal reviews, performance reviews, exec reviews, documents, meetings, bug reports, triage, OKRs, H1 plans followed by H2 plans, all-hands summits, and inevitable reorgs.”

Former Waze CEO Noam Bardin, who quit Google in 2021, shared Seshadri’s post on LinkedIn. In a blog post a couple years earlier, Bardin had written that employees aren’t incentivized to build Google products.

“The problem was me — believing I can keep the startup magic within a corporation, in spite of all the evidence showing the opposite,” he wrote in his critique of the company.

Like Seshadri and Bardin, a number of AI specialists have left the company, saying it had grown too bureaucratic to get things done.

Eight AI researchers who created “Transformers,” an integral part of the infrastructure behind ChatGPT and other chatbots, have left the search giant since 2017 — many of them going on to start their own companies. Five of them left in 2021 alone.

Llion Jones, who departed Google this month to start his own company focused on AI, told CNBC’s Jordan Novet, “the bureaucracy had built to the point where I just felt like I couldn’t get anything done.”

Other AI researchers at Google have made similar complaints in recent months. Several have gone on to start their own companies focused on AI, where they have more agency over vision and speed.

In February, longtime product exec Clay Bavor said after 18 “wonderful years” at Google, he was leaving to start an artificial intelligence company with former Salesforce co-CEO Bret Taylor. “We share an obsession with recent advances in AI, and we’re excited to build a new company to apply AI to solve some of the most important problems in business,” Bavor wrote at the time.

“We’ve made intentional efforts throughout the year to move quickly with nimble teams,” said Google spokesperson Courtenay Mencini. “For instance, products like Bard and SGE [Search Generative Experience] are being developed by small, fast-moving teams that have been built for these high-priority efforts.”

Despite its efforts, the company faced criticism from investors and its own employees when it quickly tried to announce its ChatGPT competitor Bard, which it started opening up to the wider public in March. While the rollout’s reputation has rebounded after several updates and a successful developer conference, the company still has yet to launch SGE to the wider public.

The company has also become less flexible as it strives to get employees back into the office.

Google recently cracked down on its hybrid three-day-a-week office policy to include badge tracking, and noted attendance will be included in performance reviews, CNBC previously reported. Additionally, employees who already received approval for remote work may now have that status reevaluated.

There’s also a new emphasis on cost-cutting that has taken some employees by surprise.

Even if the company had been considered slower moving, at least it had been considered secure — commonly known as a place where employees could “rest and vest.” That changed with the company’s first-ever mass layoffs in January, where Alphabet abruptly announced it was eliminating about 12,000 jobs, or 6% of its workforce, in an overnight email. Some employees reportedly arrived at work to discover their badges no longer worked. It then declined to pay out the remainder of employees’ approved leave time.

While the company included competitive severance packages, some employees lost trust in leadership, who had long encouraged employees to be kind, humble and open-minded, or “Googley.”

The company has also reduced spending on real estate, even asking employees in its cloud unit to share desks. It’s also cut down on desktop PCs and equipment refreshes for employees. It started cutting travel and events late last year.

In an all-hands meeting last September, employees voted to ask Pichai why the company is “nickel-and-diming employees” with some of its cutbacks on perks and travel.

Google’s culture can still be enjoyable even if some things, like certain swag items, are getting taken away, the CEO argued.

“I remember when Google was small and scrappy,” Pichai said. “We shouldn’t always equate fun with money. I think you can walk into a hardworking startup and people may be having fun and it shouldn’t always equate to money.” 

Pichai’s statement touched a nerve. Yes, many people joined Google so their work would immediately have an impact of many more users than other companies. It’s still considered one of the top places to work, with opportunities to tackle some of the industry’s biggest problems. But, alongside all that, money and perks had flowed generously, regardless of the speed at which projects moved.

Now, the company faces its biggest challenge yet, which falls on the shoulders of Pichai and the next guard — trying to recreate the magic of its early days along with delivering revenue while being under more pressure than ever.

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Apple has its best week since July 2020 after White House visit

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Apple has its best week since July 2020 after White House visit

U.S. President Donald Trump and Apple CEO Tim Cook shake hands on the day they present Apple’s announcement of a $100 billion investment in U.S. manufacturing, in the Oval Office at the White House in Washington, D.C., U.S., August 6, 2025.

Jonathan Ernst | Reuters

Apple shares rose 13% this week, its largest weekly gain in more than five years, after CEO Tim Cook appeared with President Donald Trump in the White House on Wednesday.

Shares of the iPhone maker rose 4% to close at $229.35 per share on Friday for the company’s largest weekly gain since July 2020. The week’s move added over $400 billion to Apple’s market cap, which now sits at $3.4 trillion.

Apple is the third-most valuable company, behind Nvidia and Microsoft and ahead of Alphabet and Amazon.

At the White House on Wednesday, Cook appeared with Trump to announce Apple’s plans to spend $100 billion on American companies and American parts over the next four years.

Apple’s plans to buy more American chips pleased Trump, who said during the public meeting that because the company was building in the U.S., it would be exempt from future tariffs that could double the price of imported chips.

Investors had worried that some of Trump’s tariffs could substantially hurt Apple’s profitability. Apple warned in July that it expected over $1 billion in tariff costs in the current quarter, assuming no changes.

“Apple and Tim Cook delivered a masterclass in managing uncertainty after months and months of overhang relative to the potential challenges the company could face from tariffs,” JP Morgan analyst Samik Chatterjee wrote on Wednesday. He has an overweight rating on Apple’s stock.

Cook’s successful White House meeting also comes two weeks after Apple reported June quarter earnings in which overall revenue jumped 10% and iPhone sales grew by 13%.

WATCH: Santoli’s Last Word: Apple helps drive S&P higher

Santoli's Last Word: Apple helps drive S&P higher

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Tesla Robotaxi scores permit to run ride-hailing service in Texas

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Tesla Robotaxi scores permit to run ride-hailing service in Texas

In an aerial view, the Tesla headquarters is seen in Austin, Texas, on July 24, 2025.

Brandon Bell | Getty Images

Tesla has been granted a permit to run a ride-hailing business in Texas, allowing the electric vehicle maker to compete against companies including Uber and Lyft.

Tesla Robotaxi LLC is licensed to operate a “transportation network company” until August 6, 2026, according to a listing on the website of the Texas Department of Licensing and Regulation, or TDLR. The permit was issued this week.

Elon Musk’s EV company has been running a limited ride-hailing service for invited riders in Austin since late June. The select few passengers have mostly been social media influencers and analysts, including many who generate income by posting Tesla fan content on platforms like X and YouTube.

The Austin fleet consists of Model Y vehicles equipped with Tesla’s latest partially automated driving systems. The company has been operating the cars with a valet, or human safety supervisor in the front passenger seat tasked with intervening if there are issues with the ride. The vehicles are also remotely supervised by employees in an operations center.

Musk, who has characterized himself as “pathologically optimistic,” said on Tesla’s earnings call last month that he believes Tesla could serve half of the U.S. population by the end of 2025 with autonomous ride-hailing services.

The Texas permit is the first to enable Tesla to run a “transportation network company.” TDLR said Friday that this kind of permit lets Tesla operate a ride-hailing business anywhere in the state, including with “automated motor vehicles,” and doesn’t require Tesla to keep a human safety driver or valet on board.

Tesla didn’t immediately respond to a request for comment.

As CNBC previously reported, Tesla robotaxis were captured on camera disobeying traffic rules in and around Austin after the company started its pilot program. None of the known incidents have been reported as causing injury or serious property damage, though they have drawn federal scrutiny.

Elon Musk confirms plan for Tesla robotaxis in Austin, Texas next month

In one incident, Tesla content creator Joe Tegtmeyer reported that his robotaxi failed to stop for a train crossing signal and lowering gate-arm, requiring a Tesla employee on board to intervene. The National Highway Traffic Safety Administration has discussed this incident with Tesla, a spokesperson for the regulator told CNBC by email.

Texas has historically been more permissive of autonomous vehicle testing and operations on public roads than have other states.

A new law signed by Texas Republican Gov. Greg Abbott goes into effect this year that will require AV makers to get approval from the state before starting driverless operations. The new law also gives the Texas Department of Motor Vehicles the authority to revoke permits if AV companies and their cars aren’t complying with safety standards.

Tesla’s AV efforts have faced a number of challenges across the country, including federal probes, product liability lawsuits and recalls following injurious or damaging collisions that occurred while drivers were using the company’s Autopilot and FSD (Full Self-Driving) systems.

A jury in a federal court in Miami last week determined that Tesla should hold 33% of the liability for a fatal Autopilot-involved collision.

And the California DMV has sued Tesla, accusing it of false advertising around its driver assistance systems. Tesla owners manuals say the Autopilot and FSD features in their cars are “hands on” systems that require a driver ready to steer or brake at any time. But Tesla and Musk have shared statements through the years saying that a Tesla can “drive itself.”

Since 2016, Musk has been promising that Tesla would soon be able to turn all of its existing EVs into fully autonomous vehicles with a simple, over-the-air software update. In 2019, he said the company would put 1 million robotaxis on the road by 2020, a claim that helped him raise $2 billion at the time from institutional investors.

Those promises never materialized and, in the robotaxi market, Tesla lags way behind competitors like Alphabet’s Waymo in the U.S. and Baidu’s Apollo Go in China.

Tesla shares are down 18% this year, by far the worst performance among tech’s megacaps.

WATCH: What we saw at Tesla’s robotaxi launch in Texas

We went to Texas for Tesla's robotaxi launch. Here's what we saw

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Trade Desk tanks almost 40% on CFO departure, tariff concerns and competition from Amazon

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Trade Desk tanks almost 40% on CFO departure, tariff concerns and competition from Amazon

Jeff Green, CEO of The Trade Desk.

Scott Mlyn | CNBC

Shares of The Trade Desk plummeted almost 40% on Friday and headed for their worst day on record after the ad-tech company announced the departure of its CFO and analysts expressed concerns about rising competition from Amazon.

The Trade Desk, which went public in 2016, suffered its steepest prior drop in February, when the shares fell 33% on a revenue miss. In its second-quarter earnings report late Thursday, the company beat expectations on earnings and revenue, but the results failed to impress investors.

The Trade Desk, which specializes in providing technology to companies that want to target users across the web, said finance chief Laura Schenkein is leaving the job and being replaced by Alex Kayyal, who has been working as a partner at Lightspeed Ventures.

While some analysts were uneasy about the sudden change in the top finance role, the bigger concern is Amazon’s growing role in the online ad market, as well as the potential impact of President Donald Trump’s tariffs on ad spending.

Amazon has emerged as a significant player in the digital advertising market in recent years, and is now third behind Google and Meta. Last week, Amazon reported a 23% increase in ad revenue for the second quarter to $15.7 billion, which beat estimates.

Read more CNBC Amazon coverage

Amazon’s ad business has largely been tied to its own platforms, with brands paying up so they can get discovered on the sprawling marketplace. However, Amazon’s demand-side platform (DSP), which allows brands to programmatically place ads across a wider swath of internet properties, is gaining more resonance in the market.

“Amazon is now unlocking access to traditionally exclusive ‘premium’ ad inventory across the open internet, validating the strength of its DSP and suggesting The Trade Desk’s value proposition could erode over time,” Wedbush analysts wrote on Friday.

The Wedbush analysts lowered their rating on The Trade Desk to the equivalent of hold from buy, and cited Amazon’s recent ad integration with Disney as a sign of the company’s aggressiveness.

Executives at The Trade Desk were asked about Amazon on the call, and responded by suggesting that the companies don’t really compete, emphasizing that Amazon is conflicted because it will always prioritize its own properties.

Simon: The consumer's never been more in control than they are right now

“A scaled independent DSP like The Trade Desk becomes essential as we help advertisers buy across everything and that we have to do that without conflict or compromise,” CEO Jeff Green said on the call. “It is my understanding that Amazon nearly doubled the supply of Prime Video inventory in the recent months. That creates a number of conflicts.”

For the second quarter, The Trade Desk reported a 19% increase in year-over-year revenue to $694 million, topping the $685 million estimate, according to analysts polled by LSEG. Adjusted earnings per share of 41 cents beat estimates by a penny.

Looking to the third quarter, the Trump administration’s tariffs were also a theme, as the company forecast revenue of at least $717 million, representing growth of 14% at minimum.

“From a macro standpoint, some of the world’s largest brands are absolutely facing pressure and some amount of uncertainty,” Green said. “Some have to respond more than others to tariffs. Many are managing inflation worries and the related pricing that comes with that.”  

With Friday’s slump, The Trade Desk shares are now down 53% for the year, while the S&P 500 is up about 9%. The Trade Desk was added to the S&P 500 in June.

WATCH: Trade Desk shares sink

Trade Desk shares sink on tariff warning

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