Alphabet's (GOOGL) Google has started a new venture capital program aimed at artificial intelligence, Axios reports.
The program marks the first time Google has had an investment initiative targeting a particular type of technology.
The program will be spearheaded by Anna Patterson, a longtime Google VP of engineering, and will be comprised of Google AI engineers.
The effort is reportedly seeking investment opportunities costing between $1 million and $10 million. If the opportunity is right, the new program may co-invest with Google Ventures.
Shares of Alphabet were higher during afternoon trading on Friday.
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