Semantic analysis of text: demo of gensim over arXiv.org
aura.fi.muni.cz
aura.fi.muni.cz
There is no "understanding" involved. Just unsupervised number crunching.
You might try googling for "statistical semantics" though ( http://en.wikipedia.org/wiki/Statistical_semantics ).
More relevant to HN, there are entire businesses successfully using this (admittedly primitive) notion of "statistical semantics": Chomp.com, SketchEngine.co.uk, SumoBrain.com , PearsonKT.com etc.