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DeepMind A I Unit Lost $649 Million Last Year and Had a $1 5 Billion Debt Waived by Alphabet

The vast majority of DeepMind s spending in 2019 went on staff and other related costs, with the annual report showing that some £468 million went toward this, up from £398 million in 2018. DeepMind now employs around 1,000 people worldwide, including some of the world s leading AI research scientists, who can command annual salaries of more than $1 million. These top people, who often have Ph.D.s from the likes of Oxford, Cambridge, Stanford or MIT, can command this sort of money because they re also sought after by Big Tech companies like Facebook, Apple, Amazon and Microsoft. A DeepMind spokesperson told CNBC: During the period covered by these accounts, DeepMind laid the foundations for our groundbreaking results in protein structure prediction a 50-year grand challenge in biology and collaborated with teams across Google to deliver real-world impact at scale.

Artificial intelligence lab DeepMind loses US$649m

Artificial intelligence lab DeepMind loses US$649m
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Alphabet-Backed Fintech GoCardless Nears $1 Billion Valuation Amid Digital Payments Boom

Founded in 2011, GoCardless processes direct debit payments recurring transactions withdrawn directly from a customer s bank account for things like subscriptions, invoices and installments for its business clients. The London-based company has won backing from top investors including the venture capital investment arms of Alphabet and Salesforce. It s been a strange round in some ways because it wasn t something we d planned, GoCardless CEO and co-founder Hiroki Takeuchi told CNBC. We thought that we would raise money next year. 2020 has been a tumultuous year with a lot going on, he added. But we ve actually been growing through this period quite successfully and showing a lot of business resilience in what we ve built.

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