Google

Google’s top lobbyist Mark Isakowitz is departing the company, leaving the tech giant without one of its most prominent Republican executives shortly before Trump steps into office for a second time.

“The market’s current view on the impact of antitrust and a perception of Alphabet as an AI laggard is overly punitive,” says the same analyst who had called Alphabet “materially undervalued”.

“Google is once, twice, three times a monopolist,” Justice Department lawyer Aaron Teitelbaum said.

Investors are overestimating how much of the DOJ proposal will feature in remedies imposed on Alphabet after the appeals court decision, “which will come in 2026 at the earliest”.

Google pledged to invest US$2 billion ($2.69 billion) in Anthropic last year. As part of the deal, Google gained non-voting shares and certain consultation rights on significant business issues.

The case is one of several antitrust actions against big tech companies being pursued by the administration of President Joe Biden

A US court ruled in August that Google illegally monopolised the search market.

Google shares fell as much as 1.8% to $172.16 in late trading. They had been up 25% this year through the close.

The e-Conomy SEA report 2024 reveals that Southeast Asia's digital economy can achieve profitability and growth in tandem, marking a significant step towards achieving sustainable economic value.

Google is set to demonstrate the product as soon as December with the release of its next flagship Gemini large language model.