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Tech giants invest in AI startups to stay competitive

CNBC — March 30, 2024, 02:00 PM UTC

Summary: Tech giants like Amazon, Microsoft, and Google are investing billions in AI startups like Anthropic to stay competitive in the growing AI market, predicted to exceed $1 billion in revenue within a decade. In 2023, investors poured $29.1 billion into nearly 700 generative AI deals, with tech companies leading the way. These investments are crucial as AI models are costly to develop and train, requiring specialized chips.

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Timeline:

  1. [5.6]
    AI startups thrived at Y Combinator, with 86 present (TechCrunch)
    38d

    ScoresSource
  2. [6.6]
    AI trade in 2024 is strong with room to grow (CNBC)
    41d

    ScoresSource
  3. [6.6]
    Amazon boosts Anthropic investment to $4bn, surpassing OpenAI (Financial Times)
    45d

    ScoresSource
  4. [6.7]
    Amazon invests $2.75 billion in AI startup Anthropic (CNBC)
    46d

    ScoresSource
  5. [4.0]
    Amazon invests $4 billion in Anthropic for generative AI (About Amazon)
    46d
    Source