Google Inc (NASDAQ:GOOGL) is making a big bet in artificial intelligence and search as it ramped up mergers and acquisitions spending in the first half of the year, Steven Levy said in an interview on Bloomberg Television.
The comment from the author of “In The Plex” comes as Google Inc (NASDAQ:GOOGL) is reported to have tripled its spending in M&A to 4.2 B during the first half of 2014. Recently, the search and advertising behemoth is reported to be buying Twitch, a company focused on streaming in the gaming industry, for a whopping $1 billion.
In the discussion on Bloomberg, Levy was asked what he thinks is the glue that holds the businesses that are being acquired by the company. He said that this glue is the Google Inc (NASDAQ:GOOGL) in the cloud and the smart company that makes it possible for people to access their data and things they are working on in any device in a seamless manner.
Furthermore, he added that most of the money the company spent in the first half went to acquiring Nest Labs and a company called DeepMind which delves in artificial intelligence. He said that this is the key to Google, that it is an artificial intelligence company.
Asked if various acquisitions is the dalliance of businessmen with big money or if there is an overarching strategy to all these acquisitions, he said that it may be a dalliance but only in the edges. He reiterated that the key to the search giant is that it is an artificial intelligence company.
When asked what Google Inc (NASDAQ:GOOGL) is, Levy said that the core is search and artificial intelligence. He noted that the company aims to do everything for people by using the massive amount of information they have to serve the needs of people.
Watch the discussion below where more was discussed.