Internet giant Google has acquired the UK-based start-up DeepMind and the latest deal is reported to be worth $400 million. In addition to that, the deal is Google’s biggest European acquisition so far.
The former teen chess prodigy Demis Hassabis is the founder of DeepMind, along with Shane Legg and Mustafa Suleyman and the company specializes in algorithms, as well as machine learning for games and e-commerce. Even though the price of the deal has been widely reported, the US company refused to comment on the figure in question, while DeepMind was not immediately available for comment.
Meanwhile, some of the biggest tech companies in the world, including Facebook, IBM and Yahoo have been focusing more than ever on developing artificial intelligence as an additional source of business. For instance, Google has been developing self-driving cars and robots and announced back in May 2013 a partnership with NASA in launching the Quantum Artificial Intelligence Lab.
The Quantum Artificial Intelligence Lab has a goal of using supercomputers and complex mathematical formulas in order to improve aeronautical science and the exploration of space. Earlier in 2014, the company purchased military robot-maker Boston Dynamics for a sum which has not been disclosed publicly. In 2012, the internet giant hired Ray Kurzweil who is a futurist, inventor and entrepreneur to lead an engineering team focused on machine learning and language.
Photo Credits: Orange UK
