Twitter spent 0 million on an AI company but thinks the tech was really worth less than million

Twitter CEO Jack DorseyAP Images Twitter is joining rivals Facebook, Google and Microsoft in a heated arms race for artificial intelligence. Now we have a first official confirmation of how much this race is costing Twitter.  In mid-June Twitter announced the acquisition of Magic Pony Technology, a company in London that specializes in image recognition. Financial terms of the transaction were not disclosed, but TechCrunch pegged the deal at roughly $150 million (including retention bonuses for the staff of 11).  In Twitter’s latest 10Q quarterly SEC filing on Monday, Twitter notes that it completed two acquisitions during the six months ended June 30, for a total price of $85.2 million.  The filing does not specify which companies it is referring to, nor break down how much of the $85.2 million went to each of the two…


Link to Full Article: Twitter spent 0 million on an AI company but thinks the tech was really worth less than million