Octopus Energy to Spin Off AI Unit Kraken with $15 Billion Valuation Estimate
The energy firm plans to separate its artificial intelligence arm Kraken, with projections placing the standalone entity's value at around $15 billion.
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Terms & Concepts
Artificial Intelligence (AI): The simulation of human intelligence in machines that can perform tasks such as learning, reasoning, and problem-solving.
Spinoff: A type of corporate action where a company creates a new independent entity by separating part of its operations or division.