Google agreed to invest up to $2 billion in Anthropic, the artificial intelligence startup founded by ex-OpenAI executives. The commitment involves a $500 million upfront investment and an additional $1.5 billion to be invested over time.
Anthropic is the developer of Claude 2, a rival chatbot to OpenAI’s ChatGPT that’s used by companies including Slack, Notion and Quora. The company, founded in 2021, has also received funding from Salesforce and Zoom, and was valued earlier this year at $4.1 billion.
Why it matters
In April, Google invested $300 million in Anthropic, taking a 10% stake. That same month, Anthropic was one of four companies invited to a meeting at the White House to discuss responsible AI development with Vice President Kamala Harris. Google parent Alphabet, Microsoft and OpenAI were the others. These big four companies seem to dominate the AI market for the next few decades.