Amazon spends $2.75 billion on AI startup Anthropic in its largest venture investment yet
Summary
Late Friday, bankruptcy filings showed crypto exchange FTX struck a deal with a group of buyers to sell the majority of its stake in Anthropic, confirming a CNBC report from last week. The term generative AI entered the mainstream and business vernacular seemingly overnight, and the field has exploded over the past year, with a record $29.1 billion invested across nearly 700 deals in 2023, according to PitchBook. Anthropics new model suite, announced earlier this month, marks the first time the company has offered "multimodality," or adding options like photo and video capabilities to generative AI. Google recently took its AI image generator, part of its Gemini chatbot, offline after users discovered historical inaccuracies and questionable responses, which circulated widely on social media. By investing in AI startups, some observers, including Benchmarks Bill Gurley, have accused the tech giants of funneling cash back to their cloud businesses, which in turn, may show up as revenue.
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