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Sunday, January 26, 2014

Google to purchase artificial intelligence company DeepMind, (NASDAQ: GOOG)

Google Inc said on Sunday it had agreed to acquire privately held artificial intelligence company DeepMind Technologies Ltd. Technology news website Re/code, which reported news of the deal earlier, said the price was $400 million, without disclosing where it got the information.A Google spokesman failed to comment on the price. DeepMind representatives could not be immediately reached for comment.Founded in London in 2012 by Demis Hassabis, Shane Legg and Mustafa Suleyman, DeepMind uses general-purpose learning algorithms for applications such as simulations, e-commerce and games, according to its website.Google, which is working on projects including self-driving cars and robots, has become increasingly focused on artificial intelligence in recent years.

Google Inc. (Google) is a global technology company. Shares of GOOG fell by 3.13% or $-36.27/share to $1123.83. In the past year, the shares have traded as low as $746.54 and as high as $1167.89. On average, 1657170 shares of GOOG exchange hands on a given day and today's volume is recorded at 3926347.