Making Sense of DeepMind’s First-Ever Profit

Making Sense of DeepMind’s First-Ever Profit

According to a corporate filing with the UK company registry published on Tuesday, Google-backed artificial intelligence research firm DeepMind turned a profit for the first time last year and saw a significant rise in its revenues.

As per the filings, its sales rose by £560 million last year, touching £826 million, compared to £266 million in 2019. The surge in revenue helped the company turn its first profit of £43.8 million, compared to a loss of £649 million the previous year. The research lab draws its revenue from research and development carried out for other companies under the Alphabet umbrella, including Google, YouTube and X, the moonshot division.

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