DeepMind, the Alphabet-owned AI research lab, has turned a profit for the first time since the company was founded in 2010.

The London-based firm recorded a profit of £43.8 million in 2020 with revenue at £826 million, according to its annual results filing with Companies House.

In previous years, DeepMind have posted losses well into the hundreds of millions that Alphabet has heavily subsidised. For example, the company lost £476 million in 2019 and has made...