Britain’s competition regulator said it had started a formal inquiry into Amazon’s investment in artificial intelligence start-up Anthropic.
Amazon.Com Inc.
08 August 2024 15:47:43
Source: Sharecast
The Competition and Markets Authority (CMA) said it now had enough information about Amazon’s partnership with the company to begin an investigation. It will then decide whether to refer the matter for an in-depth “Phase 2” probe by October 4.
Anthropic, which makes the ‘Claude’ AI software said it would “cooperate with the CMA”.
“We are an independent company. Our strategic partnerships and investor relationships do not diminish our corporate governance independence or our freedom to partner with others,” it added.
Amazon invested $4bn in Anthropic and took a minority stake in the company in March. The CMA in April said it was seeking views on what it regarded as potentially anti-competitive behaviour.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.