Deepmind, the artificial intelligence company owned by Google, has posted a huge increase in loss for the full year as its debt level reached more than £1bn. The London-headquartered company reported a loss of £470m in 2018, compared to £302m the previous year, according to its latest accounts. While Deepmind almost doubled its revenue over the year to £103m, this was offset by a near doubling of staff costs to £400m. Deepmind also said it has a debt pile of £1.04bn due for repayment this year, £883m of which is owed to Google's parent company Alphabet. A Deepmind spokesperson said: "Our DeepMind for Google team continues to make great strides bringing our expertise and knowledge to real-world challenges at Google scale, nearly doubling revenues in the past year.