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Amazon steps up AI race with Anthropic investment

SAN FRANCISCO, Sept 25 (Reuters) - Amazon.com (AMZN.O) on Monday said it will invest up to $4 billion in cash in the high-profile startup Anthropic, in its effort to compete with growing cloud rivals on artificial intelligence. Amazon's employees and cloud customers will gain early access to technology from Anthropic as part of the deal, which they can infuse into their businesses. The San Francisco-based startup also committed to rely primarily on Amazon's cloud services, including training its future AI models on large quantities of proprietary chips it would buy from the online retailing and computing giant. In a joint interview, the CEOs of Amazon's cloud division and Anthropic said the immediate investment will be $1.25 billion, with either party having the authority to trigger another $2.75 billion in funding by Amazon. They declined to state how much Amazon now would own of Anthropic or the startup's updated valuation, last estimated at more than $4 billion. Amazon said it would not gain a board seat and that its stake amounted to a minority position. The news represents perhaps Amazon's biggest answer yet to challenges from Microsoft (MSFT.O) and Alphabet's (GOOGL.O) Google, smaller cloud rivals that have marketed or developed powerful AI this year. The deal also shows ongoing maneuvering by the cloud companies to secure ties with AI startups reshaping their industry. Since 2019, Microsoft has put billions of dollars into its partnership with ChatGPT's creator OpenAI, giving its customers special access to the startup's prose-writing, image-generating technology. Google meanwhile helped pioneer this branch of AI and in May invested in Anthropic's $450-million fundraise, in a relationship the startup said is not going away. For Amazon, Monday's deal may spell an uptick in demand, including for chips powering AI. Anthropic agreed to work on developing technology for Amazon's in-house Trainium and Inferentia chips, for instance. Adam Selipsky, Amazon Web Services's CEO, said the pact "will help make Anthropic's models better, will help make our chip technology and our AI infrastructure better." Dario Amodei, Anthropic's CEO, said his company "has obtained the money in a way that allows it to prioritize safety" and "allows us to continue to scale up our models." Anthropic, founded by former OpenAI executives including Amodei, is one of a series of companies building so-called generative AI, systems that can draft content as if a human created it. Anthropic has aimed to distinguish its work by training AI to adhere to moral values. Amodei declined to state if its latest financing was competitive. Anthropic is continuing an agreement it announced with Google in February, he said. Anthropic is using Google's custom chips and has planned to make its technology available via Google Cloud and elsewhere. Yet with Monday's deal, Anthropic is giving a boost to Amazon Bedrock, a service that has attracted thousands of users to start building AI applications. Amazon's customers will gain features from Anthropic early, such as the ability to customize their AI. Selipsky said, "both companies are committing that, for many years to come, future versions of Claude will be available on Amazon Bedrock, and that's important." Anthropic's Claude 2 is an AI model that is able to respond to particularly large prompts, setting it up to analyze long business or legal documents. Amodei said the deal "allows us to work more closely to drive enterprise usage for Claude," which he said represented much of the demand on Bedrock so far. LexisNexis, a data analytics company, is working with Anthropic and Amazon to make its own legal search capabilities more "intelligent," Amodei said. Other customers include Bridgewater Associates and Lonely Planet, he said. Anthropic has yet to gain the name recognition or usage of OpenAI, the startup behind the GPT-4 model and ChatGPT, which is one of the fastest-growing software applications in history. Amazon has aimed to give customers a broad range of AI models so they have little reason to look afield for cloud services. Asked if Amazon would invest in additional AI startups beyond Anthropic, Selipsky said, "I honestly don't know what the future will hold."

Other

Amazon invests $4 billion in Anthropic startup known for ChatGPT rival Claude

Amazon will invest $4 billion in Anthropic, an AI startup founded by former OpenAI employees. The large infusion of capital makes Amazon the latest major tech company to enter the generative AI race. Amazon will take a minority stake in the AI builder, the companies said Monday in separate statements on their respective websites. Anthropic will develop its own generative AI model, called Claude, using Amazon Web Services as its primary cloud-computing provider and AWS' machine-learning chips for building, training and deployment. That model will offer similar services to compete with Microsoft-backed ChatGPT and Google's Bard. The partnership, deemed as a "strategic collaboration" by Amazon in its statement, comes as the e-commerce giant continues to embrace AI technologies. Last week, Amazon unveiled AI-powered updates to its Alexa voice assistant enabling it to engage in "smarter and more conversational" interactions with users, Amazon's devices chief Dave Limp said during a demonstration last week at the company's second headquarters in Arlington, Virginia.

Other

Amazon to invest up to $4 billion for minority stake in AI startup Anthropic

E-commerce giant Amazon.com Monday said it has agreed to invest as much as $4 billion in Anthropic, an AI startup, for a minority stake, in an effort to become a major player in generative artificial intelligence, reported Bloomberg. The report said beside a financial infusion, the Anthropic will get access to Amazon’s computing power. The startup will move most of its software to Amazon Web Services centers, and use the AWS homegrown chips to train the models it uses to power chatbots and other applications. Amazon’s engineers, including those who work outside of AWS, will have access to Anthropic’s models, the report said. “Amazon’s $4 billion investment in AI startup Anthropic may not move the financial needle for its cloud-services unit in the near term, but shows that it’s taking Microsoft’s perceived AI leadership seriously," Bloomberg Intelligence analyst Poonam Goyal said. "Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here! The deal also boots Amazon’s in-house chipmaking effort, which includes processors called Trainium and Inferentia designed to power machine-learning applications. Anthropic will use AWS chips to build and train future foundational models, the report said. “We have tremendous respect for Anthropic’s team and foundation models, and believe we can help improve many customer experiences, short- and long-term, through our deeper collaboration," Amazon chief Executive Officer Andy Jassy said in a statement. “Customers are quite excited about Amazon Bedrock, AWS’s new managed service that enables companies to use various foundation models to build generative AI applications on top of, as well as AWS Trainium, AWS’s AI training chip, and our collaboration with Anthropic should help customers get even more value from these two capabilities," he added. Anthropic, founded by OpenAI veterans, has raised more than $1 billion to date with a pitch to make a safer kind of chatbot for such tasks as summarizing, searching, answering questions and coding. The company’s backers include Alphabet Inc.’s Google, which invested almost $400 million in Anthropic, Bloomberg reported in February. “By significantly expanding our partnership, we can unlock new possibilities for organizations of all sizes, as they deploy Anthropic’s safe, state-of-the-art AI systems together with AWS’s leading cloud technology," Bloomberg reported Anthropic co-founder and CEO Dario Amodei as saying Amazon shares rose less than 1% as the market opened in New York. "Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Other

Amazon to Invest Up to $4 Billion in AI Startup Anthropic

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. As part of the deal, Anthropic will move most of its software to Amazon Web Services data centers, and use the cloud computing company’s homegrown chips to train the models it uses to power chatbots and other applications. Besides getting access to Amazon’s computing power, Anthropic will gain a financial infusion that will help it pay the huge costs required to train and run massive AI

Other

Amazon to invest up to $4 billion in AI startup Anthropic

Amazon has agreed to invest up to $4 billion in the AI startup Anthropic, the two firms said, as the e-commerce group steps up its rivalry against Microsoft, Meta, Google and Nvidia in the fast-growing sector that many technologists believe could be the next great frontier. The e-commerce group said it will initially invest $1.25 billion for a minority stake in Anthropic, which like Google’s Bard and Microsoft-backed OpenAI also operates an AI-powered, text analyzing chatbot. As part of the deal, Amazon said it has an option to increase its investment in Anthropic to a total of $4 billion. TechCrunch reported exclusively earlier this year that Anthropic, which also counts Google as an investor, plans to raise as much as $5 billion over the next two years. Anthropic, which earlier this month launched its first consumer-facing premium subscription plan of chatbot Claude 2, plans to build a “frontier model” — tentatively called “Claude-Next” — that is 10 times more capable than today’s most powerful AI, according to a 2023 investor deck TechCrunch obtained earlier this year. But this development, the startup cautioned, will require a billion dollars in spending over the next 18 months. (Microsoft has invested as much as $11 billion in OpenAI over the years.) In Amazon, Anthropic has found a deep-pocketed strategic investor that can also provide it with compute power to build future AI models and then find and help sell the offerings to scores of cloud customers. Anthropic chief executive and co-founder Dario Amodei told the TechCrunch Disrupt audience last week that he doesn’t see any barriers on the horizon for his company’s key technology. “The last 10 years, there’s been this remarkable increase in the scale that we’ve used to train neural nets and we keep scaling them up, and they keep working better and better,” he said last week. “That’s the basis of my feeling that what we’re going to see in the next 2, 3, 4 years… what we see today is going to pale in comparison to that.” Anthropic has made a “long-term” commitment to provide AWS customers around the world with access to future generations of its foundation models via Amazon Bedrock, AWS’s fully managed service that provides secure access to the industry’s top foundation models. In addition, Anthropic will provide AWS customers with early access to unique features for model customization and fine-tuning capabilities. “Training state-of-the-art models requires extensive resources including compute power and research programs. Amazon’s investment and supply of AWS Trainium and Inferentia technology will ensure we’re equipped to continue advancing the frontier of AI safety and research,” said Anthropic in a statement. “We look forward to working closely with Amazon to responsibly scale adoption of Claude and deliver safe AI cloud technologies to organizations around the world.” As part of the investment agreement, Anthropic will use Amazon’s cloud giant AWS as a primary cloud provider for mission-critical workloads, including safety research and future foundation model development, the e-commerce group said. Anthropic will additionally use AWS Trainium and Inferentia chips to build, train and deploy its future foundation models. (Anthropic has been a customer of AWS since 2021.) Amazon believes it can help “improve many customer experiences, short and long-term, through our deeper collaboration” with Anthropic, said Andy Jassy, Amazon chief executive, in a statement. “Customers are quite excited about Amazon Bedrock, AWS’s new managed service that enables companies to use various foundation models to build generative AI applications on top of, as well as AWS Trainium, AWS’s AI training chip, and our collaboration with Anthropic should help customers get even more value from these two capabilities.” Anthropic — which also counts Spark Capital, Salesforce, Sound Ventures, Menlo Ventures and Zoom among its backers — has raised a total of $2.7 billion to date. The startup was valued at about $5 billion in May this year when it secured $450 million in a funding round. It didn’t say how Amazon valued Anthropic in the new investment. The deal with Anthropic allows Amazon, which is increasingly flexing its own muscles around AI, to build a bulkier war chest in the frantically fast-growing industry.

Other

Amazon to Invest Up to $4 Billion in AI Startup Anthropic

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. As part of the deal, Anthropic will move most of its software to Amazon Web Services data centers, and use the cloud computing company’s homegrown chips to train the models it uses to power chatbots and other applications. Besides getting access to Amazon’s computing power, Anthropic will gain a financial infusion that will help it pay the huge costs required to train and run massive AI

Other

Amazon steps up AI race with Anthropic investment

SAN FRANCISCO, Sept 25 (Reuters) - Amazon.com (AMZN.O) on Monday said it will invest up to $4 billion in cash in the high-profile startup Anthropic, in its effort to compete with growing cloud rivals on artificial intelligence. Amazon's employees and cloud customers will gain early access to technology from Anthropic as part of the deal, which they can infuse into their businesses. The San Francisco-based startup also committed to rely primarily on Amazon's cloud services, including training its future AI models on large quantities of proprietary chips it would buy from the online retailing and computing giant. In a joint interview, the CEOs of Amazon's cloud division and Anthropic said the immediate investment will be $1.25 billion, with either party having the authority to trigger another $2.75 billion in funding by Amazon. They declined to state how much Amazon now would own of Anthropic or the startup's updated valuation, last estimated at more than $4 billion. Amazon said it would not gain a board seat and that its stake amounted to a minority position. The news represents perhaps Amazon's biggest answer yet to challenges from Microsoft (MSFT.O) and Alphabet's (GOOGL.O) Google, smaller cloud rivals that have marketed or developed powerful AI this year. The deal also shows ongoing maneuvering by the cloud companies to secure ties with AI startups reshaping their industry. Since 2019, Microsoft has put billions of dollars into its partnership with ChatGPT's creator OpenAI, giving its customers special access to the startup's prose-writing, image-generating technology. Google meanwhile helped pioneer this branch of AI and in May invested in Anthropic's $450-million fundraise, in a relationship the startup said is not going away. For Amazon, Monday's deal may spell an uptick in demand, including for chips powering AI. Anthropic agreed to work on developing technology for Amazon's in-house Trainium and Inferentia chips, for instance. Adam Selipsky, Amazon Web Services's CEO, said the pact "will help make Anthropic's models better, will help make our chip technology and our AI infrastructure better." Dario Amodei, Anthropic's CEO, said his company "has obtained the money in a way that allows it to prioritize safety" and "allows us to continue to scale up our models." Anthropic, founded by former OpenAI executives including Amodei, is one of a series of companies building so-called generative AI, systems that can draft content as if a human created it. Anthropic has aimed to distinguish its work by training AI to adhere to moral values. Amodei declined to state if its latest financing was competitive. Anthropic is continuing an agreement it announced with Google in February, he said. Anthropic is using Google's custom chips and has planned to make its technology available via Google Cloud and elsewhere. Yet with Monday's deal, Anthropic is giving a boost to Amazon Bedrock, a service that has attracted thousands of users to start building AI applications. Amazon's customers will gain features from Anthropic early, such as the ability to customize their AI. Selipsky said, "both companies are committing that, for many years to come, future versions of Claude will be available on Amazon Bedrock, and that's important." Anthropic's Claude 2 is an AI model that is able to respond to particularly large prompts, setting it up to analyze long business or legal documents. Amodei said the deal "allows us to work more closely to drive enterprise usage for Claude," which he said represented much of the demand on Bedrock so far. LexisNexis, a data analytics company, is working with Anthropic and Amazon to make its own legal search capabilities more "intelligent," Amodei said. Other customers include Bridgewater Associates and Lonely Planet, he said. Anthropic has yet to gain the name recognition or usage of OpenAI, the startup behind the GPT-4 model and ChatGPT, which is one of the fastest-growing software applications in history. Amazon has aimed to give customers a broad range of AI models so they have little reason to look afield for cloud services. Asked if Amazon would invest in additional AI startups beyond Anthropic, Selipsky said, "I honestly don't know what the future will hold."

Other

Amazon steps up AI race with Anthropic investment

SAN FRANCISCO, Sept 25 (Reuters) - Amazon.com (AMZN.O) on Monday said it will invest up to $4 billion in cash in the high-profile startup Anthropic, in its effort to compete with growing cloud rivals on artificial intelligence. Amazon's employees and cloud customers will gain early access to technology from Anthropic as part of the deal, which they can infuse into their businesses. The San Francisco-based startup also committed to rely primarily on Amazon's cloud services, including training its future AI models on large quantities of proprietary chips it would buy from the online retailing and computing giant. In a joint interview, the CEOs of Amazon's cloud division and Anthropic said the immediate investment will be $1.25 billion, with either party having the authority to trigger another $2.75 billion in funding by Amazon. They declined to state how much Amazon now would own of Anthropic or the startup's updated valuation, last estimated at more than $4 billion. Amazon said it would not gain a board seat and that its stake amounted to a minority position. The news represents perhaps Amazon's biggest answer yet to challenges from Microsoft (MSFT.O) and Alphabet's (GOOGL.O) Google, smaller cloud rivals that have marketed or developed powerful AI this year. The deal also shows ongoing maneuvering by the cloud companies to secure ties with AI startups reshaping their industry. Since 2019, Microsoft has put billions of dollars into its partnership with ChatGPT's creator OpenAI, giving its customers special access to the startup's prose-writing, image-generating technology. Google meanwhile helped pioneer this branch of AI and in May invested in Anthropic's $450-million fundraise, in a relationship the startup said is not going away. For Amazon, Monday's deal may spell an uptick in demand, including for chips powering AI. Anthropic agreed to work on developing technology for Amazon's in-house Trainium and Inferentia chips, for instance. Adam Selipsky, Amazon Web Services's CEO, said the pact "will help make Anthropic's models better, will help make our chip technology and our AI infrastructure better." Dario Amodei, Anthropic's CEO, said his company "has obtained the money in a way that allows it to prioritize safety" and "allows us to continue to scale up our models." Anthropic, founded by former OpenAI executives including Amodei, is one of a series of companies building so-called generative AI, systems that can draft content as if a human created it. Anthropic has aimed to distinguish its work by training AI to adhere to moral values. Amodei declined to state if its latest financing was competitive. Anthropic is continuing an agreement it announced with Google in February, he said. Anthropic is using Google's custom chips and has planned to make its technology available via Google Cloud and elsewhere. Yet with Monday's deal, Anthropic is giving a boost to Amazon Bedrock, a service that has attracted thousands of users to start building AI applications. Amazon's customers will gain features from Anthropic early, such as the ability to customize their AI. Selipsky said, "both companies are committing that, for many years to come, future versions of Claude will be available on Amazon Bedrock, and that's important." Anthropic's Claude 2 is an AI model that is able to respond to particularly large prompts, setting it up to analyze long business or legal documents. Amodei said the deal "allows us to work more closely to drive enterprise usage for Claude," which he said represented much of the demand on Bedrock so far. LexisNexis, a data analytics company, is working with Anthropic and Amazon to make its own legal search capabilities more "intelligent," Amodei said. Other customers include Bridgewater Associates and Lonely Planet, he said. Anthropic has yet to gain the name recognition or usage of OpenAI, the startup behind the GPT-4 model and ChatGPT, which is one of the fastest-growing software applications in history. Amazon has aimed to give customers a broad range of AI models so they have little reason to look afield for cloud services. Asked if Amazon would invest in additional AI startups beyond Anthropic, Selipsky said, "I honestly don't know what the future will hold."

Other

Amazon to invest up to $4 billion for minority stake in AI startup Anthropic

E-commerce giant Amazon.com Monday said it has agreed to invest as much as $4 billion in Anthropic, an AI startup, for a minority stake, in an effort to become a major player in generative artificial intelligence, reported Bloomberg. The report said beside a financial infusion, the Anthropic will get access to Amazon’s computing power. The startup will move most of its software to Amazon Web Services centers, and use the AWS homegrown chips to train the models it uses to power chatbots and other applications. Amazon’s engineers, including those who work outside of AWS, will have access to Anthropic’s models, the report said. “Amazon’s $4 billion investment in AI startup Anthropic may not move the financial needle for its cloud-services unit in the near term, but shows that it’s taking Microsoft’s perceived AI leadership seriously," Bloomberg Intelligence analyst Poonam Goyal said. "Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here! The deal also boots Amazon’s in-house chipmaking effort, which includes processors called Trainium and Inferentia designed to power machine-learning applications. Anthropic will use AWS chips to build and train future foundational models, the report said. “We have tremendous respect for Anthropic’s team and foundation models, and believe we can help improve many customer experiences, short- and long-term, through our deeper collaboration," Amazon chief Executive Officer Andy Jassy said in a statement. “Customers are quite excited about Amazon Bedrock, AWS’s new managed service that enables companies to use various foundation models to build generative AI applications on top of, as well as AWS Trainium, AWS’s AI training chip, and our collaboration with Anthropic should help customers get even more value from these two capabilities," he added. Anthropic, founded by OpenAI veterans, has raised more than $1 billion to date with a pitch to make a safer kind of chatbot for such tasks as summarizing, searching, answering questions and coding. The company’s backers include Alphabet Inc.’s Google, which invested almost $400 million in Anthropic, Bloomberg reported in February. “By significantly expanding our partnership, we can unlock new possibilities for organizations of all sizes, as they deploy Anthropic’s safe, state-of-the-art AI systems together with AWS’s leading cloud technology," Bloomberg reported Anthropic co-founder and CEO Dario Amodei as saying Amazon shares rose less than 1% as the market opened in New York. "Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Other

Amazon to invest up to $4 billion for minority stake in AI startup Anthropic

E-commerce giant Amazon.com Monday said it has agreed to invest as much as $4 billion in Anthropic, an AI startup, for a minority stake, in an effort to become a major player in generative artificial intelligence, reported Bloomberg. The report said beside a financial infusion, the Anthropic will get access to Amazon’s computing power. The startup will move most of its software to Amazon Web Services centers, and use the AWS homegrown chips to train the models it uses to power chatbots and other applications. Amazon’s engineers, including those who work outside of AWS, will have access to Anthropic’s models, the report said. “Amazon’s $4 billion investment in AI startup Anthropic may not move the financial needle for its cloud-services unit in the near term, but shows that it’s taking Microsoft’s perceived AI leadership seriously," Bloomberg Intelligence analyst Poonam Goyal said. "Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here! The deal also boots Amazon’s in-house chipmaking effort, which includes processors called Trainium and Inferentia designed to power machine-learning applications. Anthropic will use AWS chips to build and train future foundational models, the report said. “We have tremendous respect for Anthropic’s team and foundation models, and believe we can help improve many customer experiences, short- and long-term, through our deeper collaboration," Amazon chief Executive Officer Andy Jassy said in a statement. “Customers are quite excited about Amazon Bedrock, AWS’s new managed service that enables companies to use various foundation models to build generative AI applications on top of, as well as AWS Trainium, AWS’s AI training chip, and our collaboration with Anthropic should help customers get even more value from these two capabilities," he added. Anthropic, founded by OpenAI veterans, has raised more than $1 billion to date with a pitch to make a safer kind of chatbot for such tasks as summarizing, searching, answering questions and coding. The company’s backers include Alphabet Inc.’s Google, which invested almost $400 million in Anthropic, Bloomberg reported in February. “By significantly expanding our partnership, we can unlock new possibilities for organizations of all sizes, as they deploy Anthropic’s safe, state-of-the-art AI systems together with AWS’s leading cloud technology," Bloomberg reported Anthropic co-founder and CEO Dario Amodei as saying Amazon shares rose less than 1% as the market opened in New York. "Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Other

Amazon to invest up to $4 billion for minority stake in AI startup Anthropic

E-commerce giant Amazon.com Monday said it has agreed to invest as much as $4 billion in Anthropic, an AI startup, for a minority stake, in an effort to become a major player in generative artificial intelligence, reported Bloomberg. The report said beside a financial infusion, the Anthropic will get access to Amazon’s computing power. The startup will move most of its software to Amazon Web Services centers, and use the AWS homegrown chips to train the models it uses to power chatbots and other applications. Amazon’s engineers, including those who work outside of AWS, will have access to Anthropic’s models, the report said. “Amazon’s $4 billion investment in AI startup Anthropic may not move the financial needle for its cloud-services unit in the near term, but shows that it’s taking Microsoft’s perceived AI leadership seriously," Bloomberg Intelligence analyst Poonam Goyal said. "Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here! The deal also boots Amazon’s in-house chipmaking effort, which includes processors called Trainium and Inferentia designed to power machine-learning applications. Anthropic will use AWS chips to build and train future foundational models, the report said. “We have tremendous respect for Anthropic’s team and foundation models, and believe we can help improve many customer experiences, short- and long-term, through our deeper collaboration," Amazon chief Executive Officer Andy Jassy said in a statement. “Customers are quite excited about Amazon Bedrock, AWS’s new managed service that enables companies to use various foundation models to build generative AI applications on top of, as well as AWS Trainium, AWS’s AI training chip, and our collaboration with Anthropic should help customers get even more value from these two capabilities," he added. Anthropic, founded by OpenAI veterans, has raised more than $1 billion to date with a pitch to make a safer kind of chatbot for such tasks as summarizing, searching, answering questions and coding. The company’s backers include Alphabet Inc.’s Google, which invested almost $400 million in Anthropic, Bloomberg reported in February. “By significantly expanding our partnership, we can unlock new possibilities for organizations of all sizes, as they deploy Anthropic’s safe, state-of-the-art AI systems together with AWS’s leading cloud technology," Bloomberg reported Anthropic co-founder and CEO Dario Amodei as saying Amazon shares rose less than 1% as the market opened in New York. "Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Other

Amazon steps up AI race with Anthropic investment

SAN FRANCISCO, Sept 25 (Reuters) - Amazon.com (AMZN.O) on Monday said it will invest up to $4 billion in cash in the high-profile startup Anthropic, in its effort to compete with growing cloud rivals on artificial intelligence. Amazon's employees and cloud customers will gain early access to technology from Anthropic as part of the deal, which they can infuse into their businesses. The San Francisco-based startup also committed to rely primarily on Amazon's cloud services, including training its future AI models on large quantities of proprietary chips it would buy from the online retailing and computing giant. In a joint interview, the CEOs of Amazon's cloud division and Anthropic said the immediate investment will be $1.25 billion, with either party having the authority to trigger another $2.75 billion in funding by Amazon. They declined to state how much Amazon now would own of Anthropic or the startup's updated valuation, last estimated at more than $4 billion. Amazon said it would not gain a board seat and that its stake amounted to a minority position. The news represents perhaps Amazon's biggest answer yet to challenges from Microsoft (MSFT.O) and Alphabet's (GOOGL.O) Google, smaller cloud rivals that have marketed or developed powerful AI this year. The deal also shows ongoing maneuvering by the cloud companies to secure ties with AI startups reshaping their industry. Since 2019, Microsoft has put billions of dollars into its partnership with ChatGPT's creator OpenAI, giving its customers special access to the startup's prose-writing, image-generating technology. Google meanwhile helped pioneer this branch of AI and in May invested in Anthropic's $450-million fundraise, in a relationship the startup said is not going away. For Amazon, Monday's deal may spell an uptick in demand, including for chips powering AI. Anthropic agreed to work on developing technology for Amazon's in-house Trainium and Inferentia chips, for instance. Adam Selipsky, Amazon Web Services's CEO, said the pact "will help make Anthropic's models better, will help make our chip technology and our AI infrastructure better." Dario Amodei, Anthropic's CEO, said his company "has obtained the money in a way that allows it to prioritize safety" and "allows us to continue to scale up our models." Anthropic, founded by former OpenAI executives including Amodei, is one of a series of companies building so-called generative AI, systems that can draft content as if a human created it. Anthropic has aimed to distinguish its work by training AI to adhere to moral values. Amodei declined to state if its latest financing was competitive. Anthropic is continuing an agreement it announced with Google in February, he said. Anthropic is using Google's custom chips and has planned to make its technology available via Google Cloud and elsewhere. Yet with Monday's deal, Anthropic is giving a boost to Amazon Bedrock, a service that has attracted thousands of users to start building AI applications. Amazon's customers will gain features from Anthropic early, such as the ability to customize their AI. Selipsky said, "both companies are committing that, for many years to come, future versions of Claude will be available on Amazon Bedrock, and that's important." Anthropic's Claude 2 is an AI model that is able to respond to particularly large prompts, setting it up to analyze long business or legal documents. Amodei said the deal "allows us to work more closely to drive enterprise usage for Claude," which he said represented much of the demand on Bedrock so far. LexisNexis, a data analytics company, is working with Anthropic and Amazon to make its own legal search capabilities more "intelligent," Amodei said. Other customers include Bridgewater Associates and Lonely Planet, he said. Anthropic has yet to gain the name recognition or usage of OpenAI, the startup behind the GPT-4 model and ChatGPT, which is one of the fastest-growing software applications in history. Amazon has aimed to give customers a broad range of AI models so they have little reason to look afield for cloud services. Asked if Amazon would invest in additional AI startups beyond Anthropic, Selipsky said, "I honestly don't know what the future will hold."

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Amazon steps up AI race with Anthropic investment

SAN FRANCISCO, Sept 25 (Reuters) - Amazon.com (AMZN.O) on Monday said it will invest up to $4 billion in cash in the high-profile startup Anthropic, in its effort to compete with growing cloud rivals on artificial intelligence. Amazon's employees and cloud customers will gain early access to technology from Anthropic as part of the deal, which they can infuse into their businesses. The San Francisco-based startup also committed to rely primarily on Amazon's cloud services, including training its future AI models on large quantities of proprietary chips it would buy from the online retailing and computing giant. In a joint interview, the CEOs of Amazon's cloud division and Anthropic said the immediate investment will be $1.25 billion, with either party having the authority to trigger another $2.75 billion in funding by Amazon. They declined to state how much Amazon now would own of Anthropic or the startup's updated valuation, last estimated at more than $4 billion. Amazon said it would not gain a board seat and that its stake amounted to a minority position. The news represents perhaps Amazon's biggest answer yet to challenges from Microsoft (MSFT.O) and Alphabet's (GOOGL.O) Google, smaller cloud rivals that have marketed or developed powerful AI this year. The deal also shows ongoing maneuvering by the cloud companies to secure ties with AI startups reshaping their industry. Since 2019, Microsoft has put billions of dollars into its partnership with ChatGPT's creator OpenAI, giving its customers special access to the startup's prose-writing, image-generating technology. Google meanwhile helped pioneer this branch of AI and in May invested in Anthropic's $450-million fundraise, in a relationship the startup said is not going away. For Amazon, Monday's deal may spell an uptick in demand, including for chips powering AI. Anthropic agreed to work on developing technology for Amazon's in-house Trainium and Inferentia chips, for instance. Adam Selipsky, Amazon Web Services's CEO, said the pact "will help make Anthropic's models better, will help make our chip technology and our AI infrastructure better." Dario Amodei, Anthropic's CEO, said his company "has obtained the money in a way that allows it to prioritize safety" and "allows us to continue to scale up our models." Anthropic, founded by former OpenAI executives including Amodei, is one of a series of companies building so-called generative AI, systems that can draft content as if a human created it. Anthropic has aimed to distinguish its work by training AI to adhere to moral values. Amodei declined to state if its latest financing was competitive. Anthropic is continuing an agreement it announced with Google in February, he said. Anthropic is using Google's custom chips and has planned to make its technology available via Google Cloud and elsewhere. Yet with Monday's deal, Anthropic is giving a boost to Amazon Bedrock, a service that has attracted thousands of users to start building AI applications. Amazon's customers will gain features from Anthropic early, such as the ability to customize their AI. Selipsky said, "both companies are committing that, for many years to come, future versions of Claude will be available on Amazon Bedrock, and that's important." Anthropic's Claude 2 is an AI model that is able to respond to particularly large prompts, setting it up to analyze long business or legal documents. Amodei said the deal "allows us to work more closely to drive enterprise usage for Claude," which he said represented much of the demand on Bedrock so far. LexisNexis, a data analytics company, is working with Anthropic and Amazon to make its own legal search capabilities more "intelligent," Amodei said. Other customers include Bridgewater Associates and Lonely Planet, he said. Anthropic has yet to gain the name recognition or usage of OpenAI, the startup behind the GPT-4 model and ChatGPT, which is one of the fastest-growing software applications in history. Amazon has aimed to give customers a broad range of AI models so they have little reason to look afield for cloud services. Asked if Amazon would invest in additional AI startups beyond Anthropic, Selipsky said, "I honestly don't know what the future will hold."

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Amazon invests $4 billion in Anthropic startup known for ChatGPT rival Claude

Amazon will invest $4 billion in Anthropic, an AI startup founded by former OpenAI employees. The large infusion of capital makes Amazon the latest major tech company to enter the generative AI race. Amazon will take a minority stake in the AI builder, the companies said Monday in separate statements on their respective websites. Anthropic will develop its own generative AI model, called Claude, using Amazon Web Services as its primary cloud-computing provider and AWS' machine-learning chips for building, training and deployment. That model will offer similar services to compete with Microsoft-backed ChatGPT and Google's Bard. The partnership, deemed as a "strategic collaboration" by Amazon in its statement, comes as the e-commerce giant continues to embrace AI technologies. Last week, Amazon unveiled AI-powered updates to its Alexa voice assistant enabling it to engage in "smarter and more conversational" interactions with users, Amazon's devices chief Dave Limp said during a demonstration last week at the company's second headquarters in Arlington, Virginia.

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Amazon invests $4 billion in Anthropic startup known for ChatGPT rival Claude

Amazon will invest $4 billion in Anthropic, an AI startup founded by former OpenAI employees. The large infusion of capital makes Amazon the latest major tech company to enter the generative AI race. Amazon will take a minority stake in the AI builder, the companies said Monday in separate statements on their respective websites. Anthropic will develop its own generative AI model, called Claude, using Amazon Web Services as its primary cloud-computing provider and AWS' machine-learning chips for building, training and deployment. That model will offer similar services to compete with Microsoft-backed ChatGPT and Google's Bard. The partnership, deemed as a "strategic collaboration" by Amazon in its statement, comes as the e-commerce giant continues to embrace AI technologies. Last week, Amazon unveiled AI-powered updates to its Alexa voice assistant enabling it to engage in "smarter and more conversational" interactions with users, Amazon's devices chief Dave Limp said during a demonstration last week at the company's second headquarters in Arlington, Virginia.

Other

Amazon invests $4 billion in Anthropic startup known for ChatGPT rival Claude

Amazon will invest $4 billion in Anthropic, an AI startup founded by former OpenAI employees. The large infusion of capital makes Amazon the latest major tech company to enter the generative AI race. Amazon will take a minority stake in the AI builder, the companies said Monday in separate statements on their respective websites. Anthropic will develop its own generative AI model, called Claude, using Amazon Web Services as its primary cloud-computing provider and AWS' machine-learning chips for building, training and deployment. That model will offer similar services to compete with Microsoft-backed ChatGPT and Google's Bard. The partnership, deemed as a "strategic collaboration" by Amazon in its statement, comes as the e-commerce giant continues to embrace AI technologies. Last week, Amazon unveiled AI-powered updates to its Alexa voice assistant enabling it to engage in "smarter and more conversational" interactions with users, Amazon's devices chief Dave Limp said during a demonstration last week at the company's second headquarters in Arlington, Virginia.

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