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Tech Giants investing bn in startups due to generative AI FOMO
The Business Guardian
|April 01, 2024
Due to regulatory challenges, tech giants have reduced their acquisition activities but are still pouring billions into promising ventures. Amazon's recent $2.75 billion investment in AI startup Anthropic exemplifies this trend, showcasing the ongoing rush towards AI investments among major tech players.
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Anthropic is the developer behind the AI model Claude, which competes with GPT from Microsoft-backed OpenAI, and Google's Gemini. Along with Meta and Apple, they're all racing to integrate generative AI into their vast portfolios of products and features to ensure they don't fall behind in a market that's predicted to top $1 billion in revenue within a decade.
In 2023, investors pumped $29.1 billion combined into nearly 700 generative AI deals, an increase of more than 260% in value from the prior year, according to PitchBook.
A significant chunk of that money was strategic, in that it came from tech companies rather than venture capitalists or other institutions. Fred Havemeyer, head of U.S. AI and software research at Macquarie, said a fear of missing out is one factor driving their decisions.
Esta historia es de la edición April 01, 2024 de The Business Guardian.
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