logo-loader
viewFacebook Inc

Facebook is acquiring Bloomsbury AI, says a TechCrunch report

Facebook is reportedly interested in using Bloomsbury in its work to tackle fake news

Facebook logo
Bloomsbury AI creates natural language processing tools to allow machines to respond to questions

The social media giant Facebook is acquiring Bloomsbury AI, a fledgling London-based startup that specializes in natural language processing technology, per a report by the financial news site TechCrunch.

Facebook is reportedly interested in using Bloomsbury in its work to tackle fake news.

The report, which cites multiple unnamed sources, says Facebook will pay between US$23mln to US$30mln in a mixture of cash and stock to acquire Bloomsbury AI.

Bloomsbury AI creates natural language processing tools to allow machines to respond to questions. Its flagship product is Cape, which relies on artificial intelligence to read text documents and answer questions about its contents.

Facebook shares were flat at US$194.01 in morning trade today.

 

Quick facts: Facebook Inc

Price: 214.87 USD

NASDAQ:FB
Market: NASDAQ
Market Cap: $612.75 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Lithium Australia outlines 2020 strategy

Lithium Australia NL (ASX:LIT) managing director Adrian Griffin discusses the company's vision and plans for 2020 with Proactive's Benjamin Starr. The company has an integrated strategy aimed at servicing the lithium battery industry and this includes resources, technology, processing and...

6 hours, 48 minutes ago

2 min read