Google Invests US$400 Million in AI-Powered Startup Anthropic to Compete with ChatGPT
Google has recently invested US$400 million in AI-powered startup Anthropic, according to a report by Business Standard. This investment is seen as a move by Google to compete with ChatGPT, a rival AI-powered chatbot. Anthropic, a startup founded by former Google executive Eric Schmidt, is developing an AI-powered chatbot that is designed to provide users with personalized conversations and advice.
The investment is a major boost for the startup, which is already backed by venture capital firms such as Andreessen Horowitz and Kleiner Perkins. The investment is a sign of Google‘s commitment to developing AI-powered chatbots, which are becoming increasingly popular in the consumer space. Anthropic’s chatbot is designed to provide users with personalized conversations and advice, which is seen as a major advantage over other AI-powered chatbots. Google‘s investment in Anthropic is also seen as a sign of the company’s confidence in the startup‘s technology and its potential to compete with ChatGPT.
Google’s investment in Anthropic is a major boost for the AI-powered chatbot industry, as it shows that the tech giant is willing to invest in AI-powered startups. This investment is also seen as a sign of Google’s commitment to developing AI-powered chatbot technology, which is becoming increasingly popular in the consumer space. Google’s investment in Anthropic is also seen as a sign of the company’s confidence in the startup’s technology and its potential to compete with ChatGPT. According to a source familiar with the deal, Google, a subsidiary of Alphabet Inc., has invested close to $400 million in artificial intelligence firm Anthropic, which is trialing a competitor to OpenAI’s ChatGPT.
Although they separately announced a partnership in which Anthropic will make use of Google’s cloud computing facilities, Google and Anthropic declined to comment on the investment. With the field of generative AI – technology that can produce text and art in seconds — heating up, the deal represents the most recent partnership between a tech behemoth and an AI startup. According to the source who asked to remain anonymous because the details were confidential, the agreement provides Google a share in Anthropic but does not force the business to use the money to purchase cloud services from Google.
The Microsoft Corporation’s high-profile $10 billion investment in OpenAI, which expanded on the $1 billion it had already invested in the AI firm in 2019 and another round in 2021, came after the Google-Anthropic agreement. Such partnerships open up access to some of the most well-known and cutting-edge AI systems for more seasoned businesses like Microsoft and Google. A tech behemoth like Google can give the finance and cloud computing resources that startups like Anthropic require. Google’s cloud business will provide Anthropic with advanced AI chips and computing power to train and deploy its upcoming AI products, according to the company’s announcement of the arrangement.