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Google adds its investment up to US$2 billion in AI startup Anthropic

Before adding its value of US$1.5 billion, Google had invested in Anthropic company at US$500 million in April 2023.

Syifa by Syifa
October 31, 2023
in News
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Google Anthropic business news

image: technology times

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Heaptalk, Jakarta — Google has agreed to inject capital worth US$2 billion into OpenAI’s rival, Anthropic. Previously, this giant technology company had invested in this AI developer company at US$500 million as of April 2023 and took a 10% Antrhopic stake. Following this early capital disbursement, Google determined to augment its investment value up to US$1.5 billion into Anthropic.

This strategic move is a part of Google’s endeavor to continue competing with its competitor Microsoft as the main backer of the OpenAI company, which launched ChatGPT technology several times ago. Google has demonstrated its intention to develop artificial technology by injecting fresh capital into companies developing AI. This move also reflects the company’s intention to expand its portfolio and presence in this sector. However, Google’s representative has yet to respond to a request for comment on this plan.

On the other hand, Amazon is also reported to have invested in this artificial intelligence (AI) startup up to US$4 billion (Rp63 trillion) as a part of the company’s effort to remain competitive in the ever-increasing cloud and AI industry worldwide.

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According to Amazon’s quarterly report to the US Securities and Exchange Commission, the US-based e-commerce giant conveyed that the company had invested in debt securities worth US$1.25 billion to Anthropic that could be converted into equity. Further, in the second debt securities, Amazon’s investment of up to US$2.75 billion will end in Q1 2024.

As information, Anthropic startup is the developer of Claude 2, a rival chatbot to OpenAI founded by former VP of Research OpenAI, Dario Amodei, and his sister, who also served as OpenAI’s VP of Safety and Policy in 2021. Claude 2 model can summarize up to 75,000 words. Users can input large data sets and ask for summaries in the form of a memo, letter, and story. This technology can also be accessed through API and a new public-facing beta website, claude.ai.

The company obtained strategic investment from Salesforce and Zoom at US$4.1 billion early this year. On the other hand, the PitchBook data revealed this AI developer company also raised the fund at US$450 million last May this year. The company claimed that this injection is the most significant funding round for the AI company since Microsoft’s investment in OpenAI in January 2023. Through these investments gained, the startup that sells Claude aims for a valuation between US$20 billion and US$30 billion, as cited in the information.

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