Tech group doubles total investment to $8bn as generative artificial intelligence race intensifies
Amazon has invested a further $4bn in artificial intelligence start-up Anthropic, doubling its total investment in the company to $8bn, as Big Tech’s race to dominate the generative AI sector intensifies. The deal will be Amazon’s biggest-ever venture investment, after it committed an initial $1.25bn in the San Francisco based-group in September last year, increasing that to $4bn at the end of March.
Founders and staff at AI start-ups such as Adept, Inflection and Character AI have been hired by Amazon, Microsoft and Alphabet respectively. The Big Tech groups paid billions of dollars in deals designed to absorb the best staff from the fledgling AI companies while stopping short of full takeovers. Big Tech companies have become the major funders in the space, as they develop AI software, while building out cloud infrastructure to run AI services built by third-party customers.
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