PYMNTS.com March 29, 2024

As Amazon and Walmart look to generative artificial intelligence (AI) to improve their businesses and capture more of consumers’ total spending, Amazon is stepping up its investment in the space by the billions.

The eCommerce giant announced Wednesday (March 27) that it has made an additional $2.75 billion investment in AI startup Anthropic, an OpenAI competitor, bringing its total investment in the company to $4 billion. As part of the deal, the AI company will use Amazon Web Services (AWS) as its primary cloud provider.

“Generative AI (GenAI) is poised to be the most transformational technology of our time, and we believe our strategic collaboration with Anthropic will further improve our customers’ experiences, and look forward to what’s next,” Dr....

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Topics: AI (Artificial Intelligence), Provider, Retailer, Technology
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