DeepMind, Google's London-based AI subsidiary, lost $368 million last year, according to documents released by the British company's registry website, Companies House, the evening news from Beijing on October 8.
DeepMind lost 281.9 million pounds ($368 million) before tax in 2017, more than double the 126.6 million pounds ($164 million) loss in 2016, according to the document.
Analysts say DeepMind's losses indicate that Google is willing to invest in recruiting talent to win the current battle for artificial intelligence. DeepMind is losing money, but Google is willing to invest heavily because of its prospects for the future.
Documents show that most of DeepMind's expenses are spent on employees. Last year, DeepMind's total expenditure was 333 million 800 thousand pounds (US $433 million), an increase of 104% over the same period last year.
Among them, spending on employees was 200 million pounds ($260 million), up 91% from 104.7 million pounds ($136 million) in 2016.
It is reported that DeepMind has recruited more than 700 staff from offices in London, Paris, USA, Edmonton and Montreal.
In 2017, DeepMind's revenue was 54.4 million pounds ($71 million), up 35% from 40.3 million pounds ($52 million) in 2016.
DeepMind, the AI unit acquired by Google in 2014 for 400 million pounds ($497 million), is currently building a series of intelligent computer systems that can learn and think for themselves.
Two years ago, DeepMind's AI program, Alpha Go, defeated world champion and Korean go master Lee Shi-shih. Later, AlphaGo's evolution program defeated the top players in the world, including Ke Jie. (Li Ming)
Waonews is a news media from China, with hundreds of translations, rolling updates China News, hoping to get the likes of foreign netizens