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Amazon Adds $2.75 Billion to its Stake in Anthropic

Mar 31, 2024 - news.bensbites.co
Amazon has increased its investment in Anthropic, a start-up specializing in artificial intelligence (AI), by $2.75 billion, bringing its total stake to $4 billion. This makes Anthropic, which competes with companies like OpenAI and Google, Amazon's most significant AI partner. The additional investment reflects the vast resources tech companies are investing in AI and the financial support needed for Anthropic to compete with its rivals.

In other news, Anthropic has reduced the holdings of a controversial investor, the bankrupt cryptocurrency exchange FTX. Last week, a federal judge approved FTX's sale of its stake in Anthropic. In 2021, FTX had invested $500 million in the AI start-up, which constituted about 8% of the company. The value of this investment has since increased significantly, with Anthropic's valuation tripling to $15 billion in just a year.

Key takeaways:

  • Amazon has added $2.75 billion to its investment in Anthropic, a start-up that competes with companies like OpenAI and Google in the race to build cutting-edge A.I. systems.
  • Six months ago, Amazon invested $1.25 billion in Anthropic, making the San Francisco start-up Amazon’s most important A.I. partner.
  • Last week, a federal judge granted approval for the bankrupt cryptocurrency exchange FTX to sell its stake in Anthropic.
  • In 2021, FTX invested $500 million in the A.I. start-up, making up a stake of about 8 percent. The value of that investment has since ballooned. Anthropic’s valuation tripled to $15 billion in just a year.
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