Amazon also announced last month that it would invest up to $4 billion in Anthropic to compete with its growing cloud rivals in the AI field. The company has already invested in a $1.25 billion note from Anthropic that can convert to equity, with the ability to invest up to $2.75 billion in a second note expiring in the first quarter of 2024. These investments highlight the ongoing efforts by cloud companies to establish ties with AI startups that are transforming their industry.
Key takeaways:
- Google has agreed to invest up to $2 billion in the artificial intelligence company Anthropic, with an initial investment of $500 million and an agreement to add $1.5 billion more over time.
- Google is already an investor in Anthropic, and this new investment is part of its efforts to compete with Microsoft and other Big Tech companies in the AI sector.
- Amazon.com also plans to invest up to $4 billion in Anthropic to compete with growing cloud rivals on AI, as detailed in its recent quarterly report to the U.S. Securities and Exchange Commission.
- Anthropic, co-founded by former OpenAI executives Dario and Daniela Amodei, is working to secure the resources and backers needed to compete with OpenAI and lead in the technology sector.