The FTC and 17 state attorneys general filed an antitrust suit against Amazon on Tuesday, alleging the company operates an illegal monopoly.
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.
(Bloomberg) -- The US Federal Trade Commission sued Amazon.com Inc. in a long-anticipated antitrust case, accusing the e-commerce giant of monopolizing online marketplace services by degrading quality for shoppers and overcharging sellers.Most Read from BloombergDimon Warns 7% Fed Rate Still Possible, Times of India SaysRepublican Moderates Turn to Rare Maneuver to Avoid Lengthy Government ShutdownIndians Have Five Days to Deposit $3 Billion in Soon-to-Be-Withdrawn BanknotesApple’s $59 Fake-Sued