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Amazon to invest up to USD 4 billion in Anthropic
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Sep 25, 2023
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Generative AI Applications

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Sep 25, 2023

Amazon to invest up to USD 4 billion in Anthropic

Funding

  • Amazon has announced plans to invest up to USD 4 billion in AI startup Anthropic, initially putting in USD 1.25 billion for a minority stake.

  • The investment will be used for building a more advanced AI model called "Claude-Next” and is expected to require USD 1 billion in spending over the next 18 months.

  • Anthropic aims to develop AI models that are 10x more capable than current ones. Amazon's investment will provide compute power and help sell Anthropic's AI offerings to cloud customers. The startup will also use Amazon Web Services (AWS) as its primary cloud provider for critical workloads.

  • Analyst QuickTake: As previously announced, Anthropic planned to raise a total of USD 5 billion over the next two years and was valued at USD 5 billion in May this year in its USD 450 million funding round led by Google and involving investors, such as Spark Capital and Salesforce. It also received another USD 100 million from South Korean wireless telecommunications operator SK Telecom (SKT) in August. On a separate note, this move reflects Amazon's commitment to AI development, positioning itself against rivals like Microsoft and Google. 

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