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How did DeepMind make money?
DeepMind, which is likely the largest AI research operation in the world, has a very unique revenue model: it makes 100\% of its money selling the technologies it develops to other subsidiaries of Alphabet, Google’s parent company. Alphabet also wrote off $1.5 billion in DeepMind’s debt in 2019.
How much did DeepMind sell for?
On 26 January 2014, Google announced the company had acquired DeepMind for $500 million, and that it had agreed to take over DeepMind Technologies. The sale to Google took place after Facebook reportedly ended negotiations with DeepMind Technologies in 2013.
Who funded DeepMind?
Kings Cross-headquartered DeepMind was founded in London by former video game developer and child chess prodigy Demis Hassabis in 2010. It quickly developed a reputation as one of the best AI and machine learning research firms in the world and Google bought the business in 2014 for around half a billion dollars.
Why did Google buy DeepMind?
A DeepMind spokesperson said: “We chose Google as a partner because it was clear they were as passionate about AI as we were and since then our partnership has gone from strength-to-strength in pursuit of our shared long-term ambition for responsible and impactful AI.”
When did Elon Musk invest in DeepMind?
2014
The Tesla and SpaceX boss made his comments in an interview with The New York Times. Musk invested in DeepMind before it was acquired by Google in 2014.
When did Google acquire DeepMind?
Google, meanwhile, bought DeepMind in 2014 and bankrolls its large losses, and it really, really wants to squeeze some money out of all those juicy brains.
What did Google buy DeepMind for?
Google buys UK artificial intelligence startup Deepmind for £400m. Google has made one its largest European acquisitions to date with a deal to buy DeepMind technologies, a London-based artificial intelligence firm which specialises in machine learning, advanced algorithms and systems neuroscience.
Where is DeepMind located in the UK?
Entrance of building where Google and its subsidiary Deep Mind are located at 6 Pancras Square, London, UK. DeepMind Technologies is a British artificial intelligence company founded in September 2010, currently owned by Alphabet Inc.. The company is based in London, but has research centres in California and Canada.
What does DeepMind mean for Artificial Intelligence?
DeepMind is the latest in a long line of artificial intelligence acquisitions from Google that recently included the learning thermostat and smart fire alarm company Nest, described by Google’s Eric Schmidt as “an important bet” which will lead to products that are “infinitely more intelligent”.
Is Google prepared to allay user concerns over its DeepMind acquisition?
Google looks like it is better prepared to allay user concerns over its latest acquisition. According to The Information’s sources, Google has agreed to establish an ethics board to ensure DeepMind’s artificial intelligence technology isn’t abused. But the company may also have to clarify what exactly DeepMind’s AI tech does.