The Telegraph My details My newsletters Logout Upgrade to Premium My details My newsletters Logout The Telegraph Twitter pays $150m for London AI startup Magic Pony Magic Pony has been acquired by Twitter Credit: Peter Matthews, Balderton Capital 20 June 2016 • 3:03pm Twitter has acquired London artificial intelligence startup Magic Pony for around $150m (£102m), according to sources close to the company.
 The startup, founded by graduates of Imperial College London uses machine learning to create high-quality videos from grainy footage, and will likely be integrated into Twitter's live and video services such as Periscope and Vine.
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 I happen to think this view is phenomenally short sighted," said Suranga Chandratillake, partner of Balderton Capital who invested in Magic Pony Technology in 2015.
 "It is, instead, a huge opportunity for Europe to be at the heart of the artificial intelligence revolution and do it off the back of US investment.
" What Magic Pony does According to a previous interview by Rob Bishop, the startup's CEO, the patented technology can enhance image quality, particularly video captured on mobile phones in poor lighting conditions.