Amazon ( AMZN.O ) is making the largest outside investment in its 30-year history as it looks to gain an edge in the race for artificial intelligence. The tech giant said it will spend another $2.75 billion to back artificial intelligence startup Anthropic, whose Foundation model and chatbot Claude compete with OpenAI and ChatGPT.
The companies announced an initial investment of $1.25 billion last September, saying at the time that Amazon would invest up to $4 billion. Wednesday's news marks Amazon's second round of financing. Anthropic previously launched its latest artificial intelligence model, Claude 3, and said it was the fastest and most powerful artificial intelligence model to date. (CNBC)