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Google Buys DeepMind, a $500M Artificial Intelligence Firm

Google recently acquired the London-based artificial intelligence firm DeepMind for a reported $500 million.

It is the latest purchase of a smart hardware start-up by Google which also acquired Nest, which designs home products such as thermostats and smoke alarms. The deal cost Google a whopping $3.2 billion.

A Google spokesman confirmed the company's acquisition of DeepMind on Monday, Jan. 27 without commenting on the price. However, Techcrunch.com reported that the deal's terms were more than $500 million.

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DeepMind was founded in 2010 by former child prodigy in chess Demis Hassabus who is now a neuroscientist, with help from Shane Legg and Mustafa Suleyman. It is believed that between 50 and 75 employees work at DeepMind, and the company was previously competitive with Google for talent ahead of the acquisition.

According to DeepMind's website, it "is a cutting edge artificial intelligence company" that blends "machine learning and systems neuroscience to build powerful multi-purpose learning algorithms." In other words, DeepMind builds computers that can learn and operate like humans. The company's investors include Founders Fund, Horizon Ventures, Skype co-founder Jaan Tallinn and Elon Musk, according to BusinessInsider.

It comes as no surprise that Google bought DeepMind; it has been creating a stronger foothold for AI in recent years for projects such as self-driving cars and space exploration. Google also recently bought the robotic company Boston Dynamic recently. DeepMind was its fourth acquisition in 2014.

If DeepMind's three founders stay on with the company and work for Google, they will work closely with futurist Ray Kurzweil who was hired in 2012 as Google's director of engineering and language processing, according to Techcrunch.

In the past, Kurzweil has revealed his desire to build a search engine so advanced that it behaves like a "cybernetic friend."

"I envision in some years that the majority of search queries will be answered without you actually asking," he said.

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