Google Inc (NASDAQ:GOOGL) is looking at artificial intelligence, space and satellites, and energy for its latest expansion, Patrick Mork told Stuart Varney in a discussion on Fox Business.
At the start of the segment, Varney noted that Google Inc (NASDAQ:GOOGL) seems to be in the new every day. He pointed out that the company is involved in many projects including in driverless cars, a partnership with Autism Speaks, acquisitions of Boston Dynamics and Nest, producing Google Glass, and of course their search engine.
Varney then went on to ask the former Google Play global marketing director about artificial intelligence, one of the three areas he says are the focus of Google Inc (NASDAQ:GOOGL) in its latest expansion. According to Mork, the search and advertising giant is getting very reactive in robotics through the leadership of Android guru Andy Rubin. The Fox business host then asked Mork whether the company is nearing completion of a computer that can think original ideas. Mork answered by saying that it is not but added that Google is making those baby steps in this field.
The next topic which was discussed is space and satellites. Google Inc (NASDAQ:GOOGL) just announced recently its $500-million acquisition of Skybox, a satellite company. Mork said that this is to improve the quality of Google Maps in the short term. In the long term, however, he pointed out that the company will likely use Skybox to deliver internet to other areas.
As for energy, Mork said that the search giant has a lot of interest in the area. Varney mentioned that te company is going into the smart power grid space. Mork mentioned that the Mountain View, California-company has had a number of acquisitions in the past of companies with interests in energy. He added that the search giant will likely try to combine delivering clean energy and internet access through just one integrated grid in the future.
The video of the discussion is available below.
Shareholders in Google Inc (NASDAQ:GOOG) includes John Osterweis’ Osterweis Capital Management which had 89,917 shares in the company by the end of March. That holding was valued at about $100.21 million. Another investor in the search and advertising behemoth is Robert Karr’s Joho Capital which held 84,063 shares, a stake worth about $93.69 million, by the end of the first quarter of the year.