Alphabet’s DeepMind Takes on Billion-Dollar Debt and Loses $572 Million
- AI company revenue doubled in 2018 but losses are spiralling
- Auditors confident Alphabet will maintain financial support
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DeepMind, the artificial-intelligence company owned by Google parent Alphabet Inc., saw its revenue almost double last year, but gains were dwarfed by losses that increased to hundreds of millions of dollars.
The London-based company also has more than a billion dollars of debt due for repayment this year, according to full-year accounts for the year ended Dec. 31 posted to U.K. business registry Companies House.