Google’s CEO, Demis Hassabis, announced at a TED conference in Canada that Google DeepMind plans to invest over $100 billion in developing Artificial General Intelligence (AGI). This decision was influenced by Microsoft’s “Stargate” initiative, highlighting Google’s dedication to advancing AGI technology.
DeepMind co-founder Demis Hassabis, who joined Google after its acquisition of DeepMind in 2014, stated at a TED conference in Canada that their investment in AGI would surpass that of the “Stargate” project. While not disclosing specific figures, this reaffirms Google’s dedication to maintaining its leadership in the AI sector.
Microsoft and OpenAI Collaborate on ‘Stargate’ Supercomputer Project
Reportedly codenamed ‘Stargate,’ this project marks a collaboration between Microsoft and OpenAI. Their objective is to develop a $100 billion supercomputer system tailored for training advanced AI models. According to an anonymous source close to OpenAI CEO Sam Altman, the Stargate project is currently in its planning stages, envisioning the establishment of a distributed network of computers across the United States.
To contextualize the proposed costs, it’s noteworthy that the world’s most powerful supercomputer, the U.S.-based “Frontier” system, required an investment of approximately $600 million for its construction. However, the Stargate project takes a significantly more ambitious approach, aiming for a multi-phase strategy that will eventually result in the development of an ‘ultimate’ Stargate system.
Google’s Computing Advantage and Market Response to AGI Investment
In his remarks, Hassabis underscored one of Google’s primary advantages over competitors like Microsoft: Alphabet, Google’s parent company, possesses superior computing power. According to Hassabis, this computing advantage is pivotal in the race towards achieving Artificial General Intelligence (AGI). He emphasized that the decision to partner with Google in 2014 was influenced by the recognition of the necessity for extensive computing resources to advance AGI research.
GOOG • NASDAQ Price chart. Source: Google Finance
On April 16th, 2024, Alphabet’s stock price closed at $156.33 per share. Following the announcement of the AGI investment, the stock price saw a slight increase, rising by 0.21% to $156.00 by the end of the subsequent trading session. Although the short-term increase is modest, the overall trend indicates investor optimism, with the stock price up by over 8% in the past month.
In Summary
Google is investing more than $100 billion in AGI technology, showcasing its determination to take the lead in the advancing AI field. This reflects the growing competition in AI, with tech giants likely to make bigger investments and pursue bold initiatives to stay ahead.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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