DeepMind is acompany that builds learning algorithms for simulations, games and e-commerce

Google is looking to beef up its artificial intelligence portfolio by acquiring a reputable AI company called DeepMind.

According to a report from Re/code, Google is paying $400 million for DeepMind, which is a company that builds learning algorithms for simulations, games and e-commerce. 

DeepMind may not be a well-known name to most, but for those in AI, it's an aggressive competitor in the space with over $50 million in funding and a team of about 50 people. 

DeepMind is based in London and was founded by Demis Hassabis, who was a child prodigy in chess and is currently a neuroscientist. Shane Legg and Mustafa Suleyman are co-founders as well. 

It's no surprise that Google would pick up an AI company, considering it recently placed a neural network for machine learning on the Internet. The network connects 16,000 computer processors and has increased performance by doubling its accuracy rate in identifying objects from a list of 20,000 items. 

Google also announced a new lab less than a year ago that focuses on advanced machine learning through a quantum computer. 

Google confirmed the acquisition of DeepMind to Re/code, but didn't share any extra details. 

Source: Re/code

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