NEW YORK–Credit unions have increasingly been told they have no choice but to band together when it comes to keeping up with the costs and speed of development in artificial intelligence (AI), and one new report offers a clear reminder why.
As part of what has been dubbed an AI “arms race,” Amazon has just announced a $4-billion investment in Anthropic, a start-up that was launched just two years ago. That includes an initial $1.25 billion for a minority stake. Anthropic will also use the tech giant’s cloud computing platform and its A.I. chips to build its models, according to the New York Times.
“Amazon is playing catch-up in generative A.I.,” the Times reported. “The partnership with Anthropic was announced just days after the e-commerce behemoth said it would apply the latest tech to Alexa, its voice assistant. And all of this is happening as consumer tech giants race to bring A.I. to the masses.”
Big Investments
According to a compilation by the Times of some of the biggest deals in AI, the investments include:
- OpenAI got $1 billion from Microsoft in 2019, and the Windows maker plowed in another $10 billion in January, at a valuation of $29 billion.
- Inflection AI, a year-old start-up, pulled in $1.3 billion from Microsoft and the chipmaker Nvidia in June at a valuation of $4 billion
- Databricks, a data analytics company, raised more than $500 million in a funding round that included Nvidia at a valuation of $43 billion this month.
- Cohere, a generative A.I. start-up, raised $270 million from Nvidia and others in June at a valuation of $2 billion.
- Hugging Face, a software company, raised $235 million last month at a valuation of $4.5 billion, in a round backed by Google, Amazon, IBM, Nvidia and Qualcomm, the chipmaker
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