Clicky

  • Login
  • Register
  • Submit Your Content
  • Contact Us
Tuesday, August 20, 2024
World Tribune
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
Submit
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
No Result
View All Result
World Tribune
No Result
View All Result

Amazon’s investment in AI firm Anthropic faces UK merger investigation

August 8, 2024
in News
Reading Time: 4 mins read
A A
Amazon’s investment in AI firm Anthropic faces UK merger investigation
0
SHARES
ShareShareShareShareShare

READ ALSO

3 red flags that you and your friend should not travel together

Google IPO banker tracks two-decade journey from Silicon Valley upstart to $2 trillion

Dario Amodei, co-founder and CEO of artificial intelligence startup Anthropic.

Chesnot | Getty Images

LONDON — E-commerce giant Amazon’s multibillion-dollar investment in the U.S. artificial intelligence firm Anthropic is formally being investigated by a U.K. competition regulator.

The Competition and Markets Authority said Thursday that it has begun a “Phase 1” investigation into Amazon’s investment and partnership with Anthropic to assess whether the deal has resulted in a relevant merger situation that may harm competition in the U.K.

Following initial scrutiny into the Amazon-Anthropic partnership, the CMA now has “sufficient information” in relation to the tie-up to begin a formal probe, the regulator said in a notice on its website.

The CMA now has up to 40 working days to decide whether the transaction could harm competition and should therefore be scrutinized further in an in-depth “Phase 2” investigation.

Amazon completed in March a $4 billion investment in Anthropic. The deal consisted of an initial $1.25 billion equity stake in September, followed by a further $2.75 billion transaction finalized earlier this year.

As part of the deal Amazon will make Anthropic’s powerful large language models available on its Bedrock platform for building generative AI applications. Anthropic’s models will also be trained and deployed on Amazon’s own custom AI chips, which were built by its Amazon Web Services cloud computing division.

In a statement to CNBC, an Amazon spokesperson said the company is “disappointed” the CMA proceeded with an initial Phase 1 merger probe, adding that its collaboration with Anthropic “does not raise any competition concerns or meet the CMA’s own threshold for review.”

“By investing in Anthropic, Amazon, along with other companies, is helping Anthropic expand choice and competition in this important technology. Amazon holds no board seat nor decision-making power at Anthropic, and Anthropic is free to work with any other provider (and indeed has multiple partners),” the spokesperson said via email.

Amazon’s spokesperson added that the company will continue to make Anthropic’s models available to customers via Bedrock.

An Anthropic spokesperson told CNBC: “We are an independent company. Our strategic partnerships and investor relationships do not diminish our corporate governance independence or our freedom to partner with others.”

“Amazon does not have a seat on Anthropic’s board, nor does it have any board observer rights,” the Anthropic spokesperson added. “We welcome the opportunity to cooperate with the CMA and provide them with a comprehensive understanding of Amazon’s investment and our commercial collaboration.”

Amazon’s investment in AI firm Anthropic faces UK merger investigation

The Amazon-Anthropic pact is not the only deal facing scrutiny from regulators in the U.K.

The CMA is separately scrutinizing U.S. software giant Microsoft‘s multibillion-dollar partnership and investment in AI giant OpenAI.

However, the watchdog is yet to reveal whether it will begin a Phase 1 investigation into the Microsoft-OpenAI partnership.

Stateside, the U.S. Federal Trade Commission in January sent orders to tech giants Microsoft, Amazon, and Google, along with AI firms OpenAI and Anthropic, requiring them to share information about their respective recent investments and partnerships.

Some smaller tech companies have criticized Big Tech firms over their strategy of building stakes in some of the key companies building advanced AI systems to get closer to them.

In May, Matt Calkins, the CEO of enterprise software firm Appian, told CNBC that getting as much data as possible and acquiring stakes in fast-growing AI startups won’t necessarily result in success in the field.

“This is a market for the clever,” Calkins said. “The fact that you’ve got enough money to buy, or buy a piece of, Anthropic or Mistral or any of that, that’s impressive. But AI may not be a ‘winner take all’ market.”

“There’s going to be different AI algorithms for different purposes, and they are going to be much more or less valuable, depending on whether and how you’ve loaded your own data into it,” he added.

Credit: Source link

ShareTweetSendSharePin
Previous Post

Humane AI Pins are being returned faster than the company can sell them

Next Post

Tenways AGO-T is a well-equipped, but heavy e-bike

Related Posts

3 red flags that you and your friend should not travel together
News

3 red flags that you and your friend should not travel together

August 20, 2024
Google IPO banker tracks two-decade journey from Silicon Valley upstart to  trillion
News

Google IPO banker tracks two-decade journey from Silicon Valley upstart to $2 trillion

August 19, 2024
SEC charges Carl Icahn with hiding billions worth of stock pledges
News

SEC charges Carl Icahn with hiding billions worth of stock pledges

August 19, 2024
What TikTok’s ‘underconsumption core’ trend means for your money
News

What TikTok’s ‘underconsumption core’ trend means for your money

August 19, 2024
Beijing and Hollywood are decoupling as Chinese audiences favor domestic productions
News

Beijing and Hollywood are decoupling as Chinese audiences favor domestic productions

August 19, 2024
Goldman Sachs cuts odds of U.S. recession to 20% on fresh data
News

Goldman Sachs cuts odds of U.S. recession to 20% on fresh data

August 19, 2024
Next Post
Tenways AGO-T is a well-equipped, but heavy e-bike

Tenways AGO-T is a well-equipped, but heavy e-bike

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

What's New Here!

Breece Hall won’t let himself be overlooked with lofty Jets goals

Breece Hall won’t let himself be overlooked with lofty Jets goals

July 26, 2024
Too much talent making for uncomfortable Team USA lineup choices

Too much talent making for uncomfortable Team USA lineup choices

July 29, 2024
General Motors, Hyundai, and Honda are accused of inappropriately sharing customer data

General Motors, Hyundai, and Honda are accused of inappropriately sharing customer data

July 27, 2024
Google pulls AI ad for Olympics following backlash

Google pulls AI ad for Olympics following backlash

August 2, 2024
The events to watch at the Paris Olympics on Saturday, August 3

The events to watch at the Paris Olympics on Saturday, August 3

August 3, 2024
Teladoc Health stock drops amidst Q2 2024 earnings report

Teladoc Health stock drops amidst Q2 2024 earnings report

August 1, 2024
How to watch US-Australia in Women’s Basketball Olympics semifinals

How to watch US-Australia in Women’s Basketball Olympics semifinals

August 9, 2024

About

World Tribune is an online news portal that shares the latest news on world, business, health, tech, sports, and related topics.

Follow us

Recent Posts

  • Super-angel billionaire Ron Conway blindsided by crypto allies: report
  • Mets’ season will be defined by this 10-game gauntlet
  • Consensus raises $11.5M for AI research engine for scientific papers
  • Morgan Stanley exec, entrepreneur’s teen daughter missing after tornado at sea

Newslatter

Loading
  • Submit Your Content
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2024 World Tribune - All Rights Reserved!

No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food

© 2024 World Tribune - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In