) continued to expand its empire with the acquisition of DeepMind
Technologies. The acquisition of the artificial intelligence (AI)
company was finalized by Google's CEO, Larry Page for a reported
FACEBOOK INC-A (FB): Free Stock Analysis
GOOGLE INC-CL A (GOOG): Free Stock Analysis
INTL BUS MACH (IBM): Free Stock Analysis
YAHOO! INC (YHOO): Free Stock Analysis Report
To read this article on Zacks.com click here.
DeepMind Technologies is a privately held company, founded by
Demis Hassabis, Shane Legg and Mustafa Suleyman in 2012, for the
purpose of building "powerful general-purpose learning
algorithms". Its algorithms are supposed to enhance simulation,
e-commerce and games.
The technology that DeepMind has developed is based on the
concept of "deep learning", which basically means the usage of
algorithms to model representative behavior from seemingly
abstract information. It is a tool that is widely used to develop
The search engine company, which is working on high-speed
Internet access and advanced research on self-driving cars and
robotics, has strengthened its focus on artificial intelligence
in recent years. In May 2012, it announced a partnership with
NASA and several universities to launch the Quantum Artificial
Intelligence Lab. Thus, the latest move reconfirms its growing
interest in artificial intelligence.
Internet-focused technology companies like
International Business Machines Corporation
) have increased focus on deep learning either through
acquisitions or internal development or both. The DeepMind
acquisition will help Google to compete against these.
Google, the world's largest online search engine, is increasingly
extending its foothold into new markets and currently holds a
Zacks Rank #2 (Buy).