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Alphabet (GOOGL) Continues its Push into AI, Acquires Kaggle
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Alphabet Inc.’s (GOOGL - Free Report) Google announced the acquisition of Kaggle, an operator of data science and machine learning competition platform, at the Google Cloud Next conference in San Francisco.
Founded in 2010, Kaggle’s platform enables data scientists to conduct machine learning contests, host data sets and write and share codes. Over the years, Kaggle has become the world’s largest data science community, leveraging on its early mover advantage and focusing on a niche market.
Earlier this month, Google and Kaggle hosted a $100,000 machine learning competition around classifying YouTube videos.
In recent times, Artificial intelligence (AI) and machine learning has helped Google in launching innovative products and services for multiple industries. Machine learning is also helping the company to overcome bigger challenges such as improving energy efficiency of data centers.
We believe that continuous focus on innovation is likely to drive the Alphabet’s stock price going ahead. The shares have appreciated 16.7% in the last one year compared with the Zacks Internet-Services industry’sgain of 14.1%.
Google Gearing Up Against Microsoft and Amazon
With more than 0.8 million data scientists on the platform, Kaggle opens up an opportunity for Google to broaden its reach within the data science community and be on an equal footing with Amazon’s (AMZN - Free Report) AWS and Microsoft’s (MSFT - Free Report) Azure that also offer data science services.
As Alphabet generates significant cash from operations and also holds a huge cash balance, management has the flexibility to pursue growth in any area that exhibits true potential. It has the scale and resources to match up to its competitors.
Buying Kaggle could also boost Google’s recruiting efforts, giving it access to a large pool of scientists.
Kaggle Eyes Infrastructure, Scalability and Improved Services
According to Kaggle co-founder and chief executive Anthony Goldbloom, the acquisition will help Kaggle better serve its community with more powerful infrastructure, scalable training and deployment services and the capacity to store and query large data sets.
The Kaggle team will join Google Cloud but operate as a distinct brand.
To Conclude
Google’s innovations outside the core search business include healthcare (partnership with Johnson & Johnson for the development of surgical robots), self-driving cars (partnership with Ford), cloud computing and drones, all being driven significantly by machine learning. We believe that the company has the financial muscle to overcome any short-term adverse conditions to continue pursuing these initiatives.
For the current year, estimates for Internap went up 1.6% in the past 30 days.
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Alphabet (GOOGL) Continues its Push into AI, Acquires Kaggle
Alphabet Inc.’s (GOOGL - Free Report) Google announced the acquisition of Kaggle, an operator of data science and machine learning competition platform, at the Google Cloud Next conference in San Francisco.
Founded in 2010, Kaggle’s platform enables data scientists to conduct machine learning contests, host data sets and write and share codes. Over the years, Kaggle has become the world’s largest data science community, leveraging on its early mover advantage and focusing on a niche market.
Earlier this month, Google and Kaggle hosted a $100,000 machine learning competition around classifying YouTube videos.
In recent times, Artificial intelligence (AI) and machine learning has helped Google in launching innovative products and services for multiple industries. Machine learning is also helping the company to overcome bigger challenges such as improving energy efficiency of data centers.
We believe that continuous focus on innovation is likely to drive the Alphabet’s stock price going ahead. The shares have appreciated 16.7% in the last one year compared with the Zacks Internet-Services industry’sgain of 14.1%.
Google Gearing Up Against Microsoft and Amazon
With more than 0.8 million data scientists on the platform, Kaggle opens up an opportunity for Google to broaden its reach within the data science community and be on an equal footing with Amazon’s (AMZN - Free Report) AWS and Microsoft’s (MSFT - Free Report) Azure that also offer data science services.
As Alphabet generates significant cash from operations and also holds a huge cash balance, management has the flexibility to pursue growth in any area that exhibits true potential. It has the scale and resources to match up to its competitors.
Buying Kaggle could also boost Google’s recruiting efforts, giving it access to a large pool of scientists.
Alphabet Inc. PE Ratio (TTM)
Alphabet Inc. PE Ratio (TTM) | Alphabet Inc. Quote
Kaggle Eyes Infrastructure, Scalability and Improved Services
According to Kaggle co-founder and chief executive Anthony Goldbloom, the acquisition will help Kaggle better serve its community with more powerful infrastructure, scalable training and deployment services and the capacity to store and query large data sets.
The Kaggle team will join Google Cloud but operate as a distinct brand.
To Conclude
Google’s innovations outside the core search business include healthcare (partnership with Johnson & Johnson for the development of surgical robots), self-driving cars (partnership with Ford), cloud computing and drones, all being driven significantly by machine learning. We believe that the company has the financial muscle to overcome any short-term adverse conditions to continue pursuing these initiatives.
Zacks Rank & Stocks to Consider
Currently, Alphabet has a Zacks Rank #3 (Hold). A better-ranked stock is Internap Corporation , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
For the current year, estimates for Internap went up 1.6% in the past 30 days.
8 Stocks with Huge Profit Potential
Just released: Driverless Cars: Your Roadmap to Mega-Profits Today. In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>