Amazon doubles down on AI startup Anthropic with another $4 billion

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Amazon doubles down on AI startup Anthropic with another $4 billion - Channel News Asia

Quick Summary:

:Amazon.com pumped another $4 billion into OpenAI competitor Anthropic, as the e-commerce giant goes up against Big Tech rivals in a race to capitalize on generative artificial intelligence technology.

Microsoft-backed OpenAI raised $6.6 billion from investors last month, which could value the company at $157 billion and cement its position as one of the most valuable private companies in the world.

Similar to Amazon's previous $4 billion investment, it comes in the form of convertible notes and comes in phases, first at $1.3 billion.