Up until this point, all cephalopods had been members of the slow and steady group known as nautiloids, from the pioneering little Plectronoceras to the imposing Cameroceras.
At the end of the Cretaceous Period, a fatal blow struck the ammonites and most of the nautiloids: the Cretaceous-Paleogene extinction event -- the same event that killed the non-avian dinosaurs.
Nautiloids today, as ammonites would have done, control their buoyancy, just like a submarine, by emptying the chambers of water to be able to float and refilling them to be able to sink.