It’s been pretty obvious for a few months now, but Google has finally admitted that it’s running its own investment fund targeting machine intelligence startups. The fund will go by the name Gradient Ventures and provide capital, resources and education to AI-first startups.
Google isn’t disclosing the size of the fund, but the company told us that it’s being run directly off of Google’s balance sheet and will have the flexibility to follow on when it makes sense. This is in contrast to GV (formally Google Ventures) and Capital G, which operate as independent funds.
AI is the first technology in a long time posing a real threat to Google dominance. In other words, artificial intelligence is the best bet for a newcomer to become the next Google. No surprise Google wants to spot that newcomer as early as possible.