Alphabet Winds Down Agriculture Startup, Licenses AI Tech to Driscoll's
Portfolio Pulse from Anusuya Lahiri
Alphabet Inc (NASDAQ:GOOG, GOOGL) is winding down its agriculture startup Mineral and licensing its AI technology to berry producer Driscoll's Inc. Mineral, which struggled to find a viable business model, uses cameras and machine learning to help farmers make better decisions. Driscoll's will use the technology to predict crop yields, and more deals are being negotiated with other industry partners.
July 03, 2024 | 2:19 pm
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POSITIVE IMPACT
Alphabet Inc is winding down its agriculture startup Mineral and licensing its AI technology to Driscoll's. This move indicates a strategic shift and could positively impact Alphabet's stock by reducing losses from an unprofitable venture.
Winding down Mineral reduces Alphabet's exposure to an unprofitable venture, while licensing the technology to Driscoll's and other potential partners could generate new revenue streams. This strategic shift is likely to be viewed positively by investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Alphabet Inc is winding down its agriculture startup Mineral and licensing its AI technology to Driscoll's. This move indicates a strategic shift and could positively impact Alphabet's stock by reducing losses from an unprofitable venture.
Winding down Mineral reduces Alphabet's exposure to an unprofitable venture, while licensing the technology to Driscoll's and other potential partners could generate new revenue streams. This strategic shift is likely to be viewed positively by investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100