Google will always be part of FAANG. It's in the name.
But if they fail in AI and their advertising business dries up (which if you listen to earnings calls, is pretty much all anyone is concerned about), then their name won't be stapled to FAANG anymore. It'll just be FAAN. When you run the gamble of having great talent but wasting it, eventually you reach the point where you're no longer a desirable location for the talent in the first place.