The London-headquartered AI lab — founded in 2010 by Demis Hassabis, Mustafa Suleyman and Shane Legg — had a loss of £477 million ($649 million) in 2019, worse than the £470 million loss in 2018, according to documents filed Thursday with the U.K.’s Companies House registry. In 2019, Google Ireland waived the repayment of intercompany loans and all accrued interest amounting to £1.1 billion, according to the filing. Azeem Azhar, founder of the Exponential View newsletter and podcast, told CNBC: “The question for me is why aren’t more companies in other sectors backing core research in exponential technologies like AI, synthetic biology, battery technology, quantum computing and the like. That backing can be direct operational dollars like Google or it could be in corporate venturing or university partnerships. But outside of a few companies (like VW or Bosch) I don’t see it happening.
There are statements and then there are stupid statements. I have no idea what really happened about the protein folding fiasco but the hype seemed to have died very quietly.
I will be waiting for an update. These kind of losses are unexplainable in any other context. I am not sure how the company hopes to recover its dues (if at all) or possibly Google will shutter it (like they boston dynamics robots).
These are astronomical losses indeed!