The UK's Competition and Markets Authority is investigating whether Alphabet's partnership with artificial intelligence startup Anthropic has reduced competition in the country. The CMA wants to determine if the partnership constitutes a "relevant merger situation" and if it could "substantially lessen competition." Google invested $500 million upfront and up to $1.5 billion more over time in Anthropic, on top of prior investments that gave it a 10% stake. Anthropic developed the AI chatbot Claude, a rival to OpenAI's ChatGPT.
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00:00It's Benzinga and here's what's on the block.
00:02The UK's Competition and Markets Authority is investigating whether Alphabet's partnership
00:07with artificial intelligence startup Anthropic has reduced competition in the country.
00:12The CMA wants to determine if the partnership between Google and Anthropic constitutes a
00:16relevant merger situation and if it could substantially lessen competition.
00:21Google invested $500 million up front and up to $1.5 billion more over time in Anthropic,
00:27on top of prior investments that gave it a 10% stake.
00:31Anthropic developed the AI chatbot Claude, a rival to OpenAI's ChatGPT.
00:35For all things money, visit Benzinga.com.