Google will invest $2 billion in rival AI startup Anthropic
Science and Technology
3 min read
Search engine Google has decided to invest $2 billion in its rival AI startup Anthropic. This latest investment follows Google's $550 million investment in Anthropic earlier this year.
Bloomberg, citing Anthropic as its source, reported that the new Amazon investment is structured as a convertible note, a type of debt that can be converted into equity in the next round of funding.
Google has already invested in Anthropic :
The report said Google has already invested $500 million in the company and is committed to investing another $1.5 billion in the future.
Before Google's latest investment in Anthropic, the tech giant had already signed a Google Cloud deal worth more than $3 billion, The Wall Street Journal reported.
Anthropic has also signed a multi-year deal with Google Cloud worth more than $3 billion. The deal was signed a few months before the new investment.
Before Google, Amazon also promised to invest up to $4 billion:
Before Google, Amazon had pledged to invest up to $4 billion in Anthropic as it looks to compete with other cloud companies in AI.
In a quarterly filing with the US Securities and Exchange Commission due this October 2023, cited by Reuters, Amazon had detailed that it had invested $1.25 billion in AI startups, which can be converted into equity and others. It has the ability to invest $2.75 billion in the note.
Founders: Daniela Amodei and Dario Amodei (brother and sister)
Daniela Amodei and Dario Amodei previously worked as engineers at OpenAI.
CEO of OpenAI: Sam Altman
Anthropic was first funded by FTX’s Sam Bankman Fried, but after the crypto exchange's famous failure, Anthropic sought other investors, including cloud giants like Amazon and Google, as well as traditional investors like Spark Capital and Menlo Ventures. Silicon Valley investors included.
Anthropic, which operates a generative AI-based chatbot called Cloud, similar to OpenAI's ChatGPT, needs billions of dollars to train more advanced versions of its AI systems.
Anthropic Company has received $7 billion in funding this year alone.
Ans. Sundar Pichai
Ans. INDIAai is the National AI Portal of India, It is a joint venture by the Ministry of Electronics and Information Technology (MEITY),National Association of Software and Services Companies (NASSCOM) and
National e-Governance Division (NEGD)
Ans. Lisa (Odisha)
Ans. Sam Altman
Ans. Convertible note is structured as a debt investment but has a provision that allows the principal plus accrued interest to convert into an equity investment at a later date.
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