Jeff Bezos-Backed Anthropic And Menlo Ventures Team Up To Launch $100M Fund For AI Startups, Increasing Competition With OpenAI

Quick Summary:

In a move that mirrors Apple Inc.’s (NASDAQ:AAPL) iFund initiative, Anthropic and Menlo Ventures have launched a $100 million fund to support early-stage AI startups.

What Happened: Anthropic, an AI startup backed by Amazon.com Inc.‘s founder Jeff Bezos, and Menlo Ventures, a major investor, have initiated the Anthology Fund, CNBC reported on Wednesday.

The Anthology Fund’s structure is reminiscent of the iFund, a collaboration between Apple and venture firm Kleiner Perkins, which was established in 2008 to support developers on Apple’s mobile platforms.

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Article Details

Category: Technology

Markets: United States

Topics: Financing Kaustubh Bagalkote AAPL News Artificial intelligence MSFT US0378331005 Benzinga Jeff Bezos Anthropic Menlo Ventures US5949181045 Tech

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-17 @ 13:30:14 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 465 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 21664979

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