Monday morning saw Amazon announce its major investment in ChatGPT’s OpenAI rival, two-year-old start-up Anthropic, of up to $4 billion. Why the AI gold rush?
Monday morning saw yet another tech giant, Amazon, announce its major investment in ChatGPT’s OpenAI rival Anthropic, with an initial stake of $1.25 billion rising to $4 billion over some time. Core to the deal, the two-year-old start-up will be deploying Amazon’s AWS custom chips to develop its AI software.
This smart move from Amazon ensures it keeps pace with other tech competitors including Microsoft (OpenAI has an exclusive deal with Microsoft), and Google’s parent company Alphabet.
Dario and Daniela Amodei, the brother-sister duo at the helm of Anthropic, founded the company in 2021 and so far have received backing from Google (worth a $450 million investment), Spark Capital, Salesforce, and crypto entrepreneur Sam Bankman-Fried.
But they are not an exception, neither are they the first to receive such enormous investments. Other start-ups this year that have been conferred eye-watering sums of investments significantly north of $100 million include Adept AI, Cohere, and Builder.AI.
What is it that these tech moguls, VCs, and tech giants are seeing in AI that is driving the mad AI gold rush?
Artificial intelligence is to science, technology, and business operations what the birth and rise of the internet was to these very industries back in the 1990s. It is the signal of a new era, significantly spearheading and underpinning ground-breaking research and the development of cutting edge technologies. Whether we like it or not, AI is revolutionizing the entire world.
To keep pace with the times and maintain relevance as an entrepreneur or leader, it is critical to adopt a continuous growth mindset and learn skills that include adaptability with the times, embracing new partnerships, and maintaining long-term vision as these tech giants have demonstrated.
