Google has agreed to invest up to US$2-billion in the artificial intelligence company Anthropic, a spokesman for the start-up said.
The company has invested $500-million upfront into the OpenAI rival and agreed to add $1.5-billion more over time, the spokesman said on Friday.
Google is already an investor in Anthropic, and the fresh investment would underscore a ramp-up in its efforts to better compete with Microsoft, a major backer of ChatGPT creator OpenAI, as Big Tech companies race to infuse AI into their applications.
Amazon.com also said last month it would invest up to $4-billion in Anthropic to compete with growing cloud rivals on AI.
In Amazon’s quarterly report to the US Securities and Exchange Commission this week, the online retailer detailed that it had invested in a $1.25-billion note from Anthropic that can convert to equity, while its ability to invest up to $2.75-billion in a second note expires in the first quarter of 2024.
Google declined to comment, and Amazon did not immediately respond to a request for comment.
The rising number of investments shows ongoing manoeuvring by cloud companies to secure ties with the AI start-ups that are reshaping their industry.
Anthropic, which was co-founded by former OpenAI executives and siblings Dario and Daniela Amodei, has shown efforts to secure the resources and deep-pocketed backers needed to compete with OpenAI and be leaders in the technology sector.
Business3 weeks ago
Dr. Nick Danso Adjei Clinches “Entrepreneur of the Year” for Second Consecutive Year
General News2 weeks ago
Philanthropy Conference: Ibrahim Tanko Eulogizes Ghanaian for relief efforts towards Akosombo Dam Spillage Victims
Education4 weeks ago
P K Amoabeng Scholars Program Inaugurated
Features and Opinions4 weeks ago
HM King Mohammed VI Speech to Extraordinary Arab-Islamic Summit
Banking and Finance3 weeks ago
New Climate Finance Knowledge Hub Opens Up Opportunities For Financial Institutions, MSMEs in Ghana
Life & Style3 days ago
Anum Chief urges immediate gov’t action to avert ethnic conflict in Asamankese
General News4 weeks ago
Ghana Chamber of Mines Donates GHc2.4m To Support Victims Of Akosombo Dam Spillage
Features and Opinions3 weeks ago
Amos Aloryi Children’s Home: Providing Support for Children of Adversities