Amazon (AMZN) has made an initial investment of $1.25 billion, according to Reuters, in the generative AI startup, Anthropic. Amazon is committed to potentially investing up to $4 billion in Anthropic, securing a minority ownership stake in the startup. Anthropic is recognized for its 'Claude' AI system, which provides assistance to users by answering their questions, similar to ChatGPT. Anthropic will leverage Amazon's resources in its development efforts, including Amazon Web Services and the company's custom chips. This investment trend aligns with the broader movement of tech giants, such as Microsoft (MSFT), Google (GOOG, GOOGL), and Meta (META), increasingly investing in artificial intelligence. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
A deal would put an end to some of the uncertainty media stocks have been facing amid Hollywood's double strike.
(Bloomberg) -- 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of confidence in the hot startup.Most Read from BloombergIndians Have Five Days to Deposit $3 Billion in Soon-to-Be-Withdrawn BanknotesIndia-Canada Clash Should Be a Wake-Up CallChinese Gold Buying Is Driving a Paradigm Shift in BullionStocks Climb, Bonds Fall as Fed Talk Digested: Markets WrapHol