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Google to Invest Fresh US$1b in OpenAI Rival Anthropic — Report

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Publish date: Thu, 23 Jan 2025, 11:14 AM
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(Jan 22): Google is making a fresh investment of more than US$1 billion (RM4.5 billion) into AI startup Anthropic, the Financial Times reported on Wednesday.

This comes after Reuters and other media reported earlier in January that Anthropic was nearing a US$2 billion fundraise in a round, led by Lightspeed Venture Partners, valuing the firm at about US$60 billion.

FT said that Google's new investment was separate from the Lightspeed funding round.

Anthropic, a major competitor of OpenAI in the AI foundation model space, declined to comment. Google did not immediately respond to a request for comment outside regular business hours.

Google already has an existing commitment of US$2 billion in Anthropic, while e-commerce giant Amazon doubled its stake in the AI company to US$8 billion late last year.

Anthropic, whose annualised revenue hit about US$875 million, sells access to its models directly and through third-party cloud services including Amazon Web Services. The development of large language models requires expensive computing as well as top talent.

Microsoft-backed OpenAI triggered an AI arms race after it launched ChatGPT in November 2022. The growing popularity of the company and new product launches helped it close a US$6.6 billion funding round in October, potentially taking its valuation to US$157 billion.

Uploaded by Magessan Varatharaja

Source: TheEdge - 23 Jan 2025

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