Amazon Just Struck a New AI Partnership With Anthropic for Its In-House Chips
As global economic turmoil continues, stock market turmoil does, too. Not even e-commerce and cloud computing infrastructure pioneer Amazon (NASDAQ: AMZN) has been exempt. Its shares fell following an otherwise glowing Q3 2023 earnings report as many investors zeroed in on "sluggish" growth in its cloud business segment, Amazon Web Services (AWS).
Nevertheless, since artificial intelligence promises to be a top investment theme for the foreseeable future, Amazon recently announced a deal with top AI start-up Anthropic. Specifically, Anthropic will use and help improve Amazon's in-house custom-designed AI chips. Here's what investors need to know.
Amazon announced its latest tie-up with Anthropic in mid-October, just ahead of the Q3 earnings update. Amazon has said it will invest $1.25 billion in the AI unicorn (a start-up that has a valuation of at least $1 billion) and could expand that investment to $4 billion.
Source Fool.com
