Amazon's $8 Billion Investment In AI Developer Anthropic 'Mutually Beneficial,' Says Analyst

Quick Summary:

Last week, Amazon.com, Inc.(NASDAQ:AMZN) deepened its partnership with Anthropic through an additional $4 billion investment, bringing Amazon's total investment in the artificial intelligence research and development company to $8 billion. 

The Details: As part of the investment, Anthropic has named Amazon Web Services as its primary training partner, in addition to continuing to be its primary cloud provider, and will use AWS Trainium and Inferentia chips to train and deploy its future foundation models.

Bank of America Securities maintained its Buy rating and $230 price objective on Amazon stock.

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Author / Journalist: Erica Kollmann

Category: Technology

Markets: United States

Topics: Artificial intelligence Anthropic Tech Analyst Ratings AMZN OpenAi News AWS US0231351067 AI Large Cap Movers Analyst Color Benzinga Expert Ideas

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Article Type: News Report

Published On: 2024-11-25 @ 21:45:44 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 346 words

Reading Time: 2 minutes read

Sentences: 15 lines

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Copyright Owner: © Benzinga

News ID: 23851953

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