Google is making a substantial investment of up to $2 billion in AI startup Anthropic, intensifying the competition among tech giants in the quest to advance AI.
This move comes in the wake of Amazon's recent commitment of $4 billion to the same company, founded by former OpenAI engineers in 2021.
Google initially injected $550 million into OpenAI's competitor Anthropic and has now agreed to provide an additional $1.5 billion over time.
Google agreed to invest up to $2 billion in Anthropic, building on its earlier investment in the artificial-intelligence company and adding fuel to the race between startups trying to achieve the next big breakthrough in the emerging technology https://t.co/d2Rnul4uxT— WSJ Tech (@WSJTech) October 27, 2023
The investments prove Google's determination to establish a strong foothold in the lucrative cloud-computing market, where Amazon and Microsoft have taken the lead.
The company hopes that its new AI software will drive corporate customers to increase their spending in this sector.
Apart from Anthropic, Google has also invested in other AI startups, such as Runway, a video production tools manufacturer, and Hugging Face, an open-source software service.
Additionally, Google has allocated billions to develop its proprietary advanced AI systems, including its chat-based AI tool Bard, aimed at competing directly with generative AI platforms like OpenAI's ChatGPT.
This Is the Second Collab Between Google and Anthropic
Anthropic, Google, Microsoft, and OpenAI have joined forces to appoint Chris Meserole as the inaugural Executive Director of the Frontier Model Forum. With a background in tech policy, Meserole is expected to bring his expertise to lead this effort.
These four companies have also launched an AI Safety Fund with an initial investment exceeding $10 million. The initiative aims to strengthen AI safety research and promote the responsible development of advanced AI models.
Furthermore, the Fund will support global independent researchers in enhancing AI safety, fostering best practices and working toward ensuring safe AI development.