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Amazon investing up to R75.3 billion in OpenAI rival

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Founded by OpenAI veterans, Anthropic has raised more than $1 billion (R18.82 billion) to date with a pitch to make a safer kind of chatbot for such tasks as summarising, searching, answering questions and coding.

Amazon.com Inc. will invest as much as $4 billion in Anthropic, bagging a crucial partner in its effort to become a major player in generative artificial intelligence and offering a vote of confidence in the hot startup.

AWS chief executive officer Adam Selipsky said in an interview on Bloomberg Television that the company’s initial investment in Anthropic is $1.25 billion.Amazon shares rose 1.6% to $131.21 at 1:05 p.m. in New York. The unit has tended to build its own products rather than relying on technology or businesses purchased from others, making relatively modest acquisitions in a market of hype-fueled, billion-dollar valuations.

“Amazon’s $4 billion investment in AI startup Anthropic may not move the financial needle for its cloud-services unit in the near term, but shows that it’s taking Microsoft’s perceived AI leadership seriously,” Bloomberg Intelligence analyst Poonam Goyal wrote in a note Monday.

 

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