- Oops!Something went wrong.Please try again later.
The company develops software tools designed to make industrial robots.
Intrinsic has been developing its technology at Google's research unit, X, for five and a half years, and it is part of the company's "Other Bets" unit.
Intrinsic announced its exit from the moonshot factory's rapid prototyping environment "to focus on developing our product and validating our technology," CEO Wendy Tan White told Reuters.
In 2015, Google founded Alphabet as a holding company supervising various "other bets," ranging from its autonomous vehicle unit to helium balloons that provide solar-powered internet services in remote areas, Reuters reported.
Price action: GOOG shares traded higher by 2.10% at $2,722.49 on the last check Friday.
See more from Benzinga
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.