Demis Hassabis now holds three formal roles inside Alphabet's AI organization: Chairman of Google DeepMind, CEO of Isomorphic Labs, and the company's first Chief Scientist. Three weeks after stepping back from day-to-day operations at DeepMind, he told Fortune he would spend more time at Isomorphic Labs, which closed a $2.1 billion Series B round in May 2026 and carries pharma partnership ceilings totalling $3 billion with Eli Lilly and Novartis.
Google DeepMind as a business
DeepMind's commercial position is easier to trace from Alphabet's financials than from its own. StartupHub.ai data shows the lab employs 8,831 people and records $1.33 billion in annual revenue, a figure that understates its contribution to Alphabet because most of DeepMind's output flows into products rather than a standalone revenue line. The clearest commercial expression of that work is the Gemini product suite, which reached 950 million monthly active users as of Alphabet's Q2 2026 earnings, with roughly 90 percent of the Fortune 100 running Gemini Enterprise, according to an Alphabet earnings blog post from July 2026.
Google Cloud, the primary commercial vehicle for AI enterprise services, grew 82 percent year over year to $24.8 billion in Q2 2026, according to Alphabet's Q2 SEC filing. That growth reflects Gemini Enterprise adoption rather than a DeepMind balance sheet line, but the causal link between the lab's model work and Alphabet's cloud business makes the cloud figure the best available proxy for DeepMind's commercial leverage. As Chairman, Hassabis retains board-level oversight of that operation while Kavukcuoglu manages the daily execution.
What Isomorphic Labs is worth
Isomorphic Labs was spun out of DeepMind in 2021 to apply AlphaFold's protein-structure technology to pharmaceutical drug discovery. Its $2.1 billion Series B round closed in May 2026, led by Thrive Capital with Alphabet, GV, MGX, Temasek, CapitalG, and the UK Sovereign AI Fund participating, according to Forbes and BioPharm International. StartupHub.ai data places the company's current valuation at $3.5 billion.
Two headline pharmaceutical deals define its commercial position. Eli Lilly signed a contract in January 2024 that included $45 million in upfront payments and potential milestones of up to $1.7 billion, according to MedPath. A parallel Novartis agreement brings the combined ceiling of both partnerships to approximately $3 billion. Hassabis told Reuters in early 2026 that Isomorphic expects to enter its first clinical trial by the end of the year, a milestone that would validate the AI-first drug design model at the stage where most pharmaceutical development fails.