Amazon (AMZN) has made an investment in the AI firm Anthropic, announcing their willingness to commit up to $4 billion this morning. Anthropic will utilize Amazon's Web Services (AWS) along with their custom chips to facilitate the training and deployment of their AI models. SmartEye Deputy CEO, Dr. Rana el Kaliouby, sees this as a beneficial move for both Anthropic and Amazon, highlighting how it allows Amazon Web Services to partner with other companies and introduce Anthropic's technology to those already using Amazon's data services. "Amazon, like many other companies, was caught flat-footed by the release of ChatGPT back in November", Chris Callison-Burch, Associate Professor at the University of Pennsylvania’s School of Engineering, tells Yahoo Finance on AI investment trends, adding: "But, I think this is a really excellent strategic move that will help them catch up." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
The Writers Guild of America (WGA) reached a tentative deal with studios. Hollywood writers still have to vote on the deal's accommodations. U.S. lawmakers struggle to reach a majority consensus on passing a new federal budget before September 30 or face a government shutdown. Amazon (AMZN) is making its move into the artificial intelligence landscape, reportedly investing as much as $4 billion into AI startup Anthropic. Yahoo Finance's Brad Smith and Seana Smith highlight several of the morning's top stories, live from the Nasdaq MarketSite. 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.