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Amazon to invest up to $4 billion in AI startup Anthropic

September 25, 2023
in Technology
Amazon to invest up to $4 billion in AI startup Anthropic
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Amazon said Monday it has agreed to invest up to $4 billion in AI startup Anthropic as the e-commerce group steps up rivalry against Microsoft, Meta, Google and Nvidia in the fast-growing red hot sector that many technologists believe could be the next great frontier.

The e-commerce group said it will initially invest $1.25 billion for a minority stake in Anthropic, which like Google and OpenAI, also operates a generative AI chat platform. As part of the deal, Amazon has an option to increase its investment to a total of $4 billion.

TechCrunch reported exclusively earlier this year that Anthropic, which also counts Google as a significant investor, had planned to raise as much as $5 billion over the next two to three years.

Anthropic, which also counts Spark Capital, Salesforce, Sound Ventures, Menlo Ventures, and Zoom among its backers, has now raised a total of $2.7 billion. It was valued at about $5 billion in May this year when it secured $450 million.

More to follow.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : TechCrunch – https://techcrunch.com/2023/09/25/amazon-to-invest-up-to-4-billion-in-ai-startup-anthropic/

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