Tag: anthropic

Anthropic Lands $450 Million Investment to Develop Reliable AI Products and Advance AI Safety

Artificial Intelligence (AI) innovator Anthropic announced today a landmark $450 million Series C funding round, securing significant investment to enhance its reliable AI products. The funding round was led by Spark Capital and included leading tech participants such as Google and Salesforce Ventures.

Anthropic, a renowned player in the AI research and development field, has a mission to create AI products that users can trust, coupled with a commitment to explore the full range of opportunities and potential risks that AI presents. The new funding will accelerate the company’s ongoing work, including the development of Claude, an AI assistant with impressive conversational and text-processing capabilities.

Dario Amodei, Anthropic’s CEO, expressed his excitement about the new funding: “The investment supports our commitment to building reliable AI services that can make a positive impact on both businesses and consumers, now and in the future.”

Anthropic’s Series C funding will be allocated to advancing its product offerings and furthering AI safety research. The company is particularly focused on AI alignment techniques, which allow AI systems to navigate adversarial conversations, follow precise instructions, and provide transparency about their behaviors and limitations.

One of Anthropic’s innovative features is the 100K context windows, which will enable users to submit hundreds of pages of materials for Claude to digest and analyze, demonstrating Anthropic’s commitment to creating advanced and reliable AI products.

As part of the funding round, Yasmin Razavi from Spark Capital will join Anthropic’s Board of Directors. Razavi praised Anthropic’s world-class technical team and their dedication to building safe, capable AI systems.

Looking ahead, Anthropic plans to utilize the funding to expand its team and meet the increasing demand for trustworthy AI technologies. The company is inviting those interested in collaborating with Claude to get in touch.

Breaking: Tech Giants Unite – OpenAI, Anthropic, Google, DeepMind, and Microsoft Launch Frontier Model Forum for Safer AI Development

OpenAI, in collaboration with Anthropic, Google, DeepMind, and Microsoft, announced the formation of the Frontier Model Forum on July 26, 2023. This new industry body aims to ensure the safe and responsible development of future hyperscale AI models.

The Frontier Model Forum is a response to the shared understanding among governments and industry that, while AI holds tremendous promise for global benefit, it also necessitates appropriate safeguards to mitigate potential risks. This initiative builds upon the efforts already made by the US and UK governments, the European Union, the OECD, and the G7 through the Hiroshima AI process, among others.

The Forum will focus on three key areas over the coming year:

Identifying best practices: The Forum aims to promote knowledge sharing and best practices among industry, governments, civil society, and academia, particularly focusing on safety standards and practices to mitigate a wide range of potential AI risks.
Advancing AI safety research: The Forum will support the AI safety ecosystem by identifying crucial open research questions on AI safety. It will coordinate research to advance efforts in areas such as adversarial robustness, mechanistic interpretability, scalable oversight, independent research access, emergent behaviors, and anomaly detection. An initial focus will be on developing and sharing a public library of technical evaluations and benchmarks for frontier AI models.
Facilitating information sharing among companies and governments: The Forum plans to establish trusted, secure mechanisms for sharing information among companies, governments, and relevant stakeholders regarding AI safety and risks, following best practices in responsible disclosure from areas such as cybersecurity.

Kent Walker, President of Global Affairs at Google & Alphabet, expressed his excitement about working together with other leading companies, sharing technical expertise to promote responsible AI innovation.

Brad Smith, Vice Chair & President at Microsoft, emphasized that companies creating AI technology have a responsibility to ensure that it is safe, secure, and remains under human control.

Anna Makanju, Vice President of Global Affairs at OpenAI, stressed the importance of oversight and governance in AI development.

Dario Amodei, CEO at Anthropic, highlighted the potential of AI to fundamentally change how the world works and the vital role of the Frontier Model Forum in coordinating best practices and sharing research on frontier AI safety.

The Frontier Model Forum represents a significant step in the tech sector’s collective effort to advance AI responsibly, addressing challenges so that AI benefits all of humanity.

Amazon Invests $4 Billion in AI Startup Anthropic for Advanced Foundation Models

Key Takeaways

Amazon to invest up to $4 billion in Anthropic.

Anthropic gains access to AWS Trainium and Inferentia chips.

Amazon acquires a minority stake in Anthropic; governance remains unchanged.

Collaboration aims to advance AI safety and research.

Strategic Investment and Collaboration

Anthropic, an artificial intelligence (AI) startup, announced on September 25, 2023, a significant investment and collaboration agreement with Amazon. Amazon will invest up to $4 billion in Anthropic as part of a broader initiative to develop reliable and high-performing foundation models. The investment will provide Anthropic with access to Amazon Web Services (AWS) Trainium and Inferentia chips, which will be used for model training and deployment.

Technological Synergy

The collaboration will also allow Amazon developers to build on top of Anthropic’s state-of-the-art models via Amazon Bedrock. This platform will enable the integration of generative AI capabilities into existing Amazon applications and the creation of new customer experiences. Anthropic’s founding team includes alumni from OpenAI, which is notably backed by Microsoft and known for developing the widely-used AI chatbot, ChatGPT.

AI Safety and Governance

As part of the investment, Amazon will acquire a minority stake in Anthropic. The startup’s corporate governance structure will remain unchanged, overseen by the Long Term Benefit Trust in accordance with its Responsible Scaling Policy. Both companies are committed to the safe training and deployment of advanced foundation models and are actively engaged in organizations like the Global Partnership on AI (GPAI), the Partnership on AI (PAI), and the National Institute of Standards and Technology (NIST).

Impact on Industries

Enterprises across various sectors are already leveraging Anthropic models on Amazon Bedrock. For instance, LexisNexis Legal & Professional is using a custom Claude 2 model for conversational search and intelligent legal drafting. Asset management firm Bridgewater Associates is developing an investment analyst assistant powered by Claude 2. Travel publisher Lonely Planet has reduced its itinerary generation costs by almost 80% after deploying Claude 2.

Future Prospects

The collaboration aims to responsibly scale the adoption of Claude and advance safe AI in the cloud. The investment will ensure that Anthropic is well-equipped to continue advancing the frontier of AI safety and research, benefiting organizations worldwide.

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U.S. Prosecutors Aim to Sideline Asset Recovery Talks in Bankman-Fried Trial

The U.S. prosecution team has issued a formal request to the United States District Court, Southern District of New York, seeking to preclude the defense from introducing arguments or evidence concerning the current value of specific investments in the trial against Samuel Bankman-Fried, the erstwhile CEO of cryptocurrency exchange FTX. This request follows allegations that Bankman-Fried misappropriated FTX customer deposits for a substantial investment in the artificial intelligence startup Anthropic, an investment whose value might have significantly appreciated amid recent fundraising endeavors by Anthropic.

In a move that captured industry attention, Bankman-Fried invested an approximate amount of $500 million in Anthropic in April 2022. This investment is now under the legal microscope as the prosecution claims it was funded by misappropriated FTX customer deposits. The narrative gains complexity as Anthropic recently disclosed its attempts to secure additional capital from potential investors, including industry behemoths Amazon and Google, at a valuation ranging between $20 billion and $30 billion. The potential appreciation of Bankman-Fried’s investment could play a pivotal role in the recovery of assets for FTX customers and other creditors embroiled in the FTX bankruptcy scenario.

The crux of the prosecution’s argument is to avoid any discussions in court regarding the increased valuation of Anthropic, suggesting that such discussions are aimed at proposing that FTX customers and other victims could eventually be compensated for their losses – a notion previously tagged by the court as an “impermissible purpose.” The government remains steadfast in its position that the focus should remain on the alleged wire fraud, emphasizing that the potential profitability of the investments made with misappropriated funds is immaterial to the charges being deliberated upon.

As the trial unfolds, both legal teams have been engaged in dialogues concerning various evidentiary matters. The prosecution’s current request underscores its intent to maintain a trial ambiance focused solely on the alleged misappropriation and fraud, devoid of financial technicalities concerning the current or future value of assets entwined in the legal proceedings. This development encapsulates a broader narrative pitting the quest for justice for the alleged victims against the financial ramifications stemming from the defendant’s actions.

FTC Investigates Big Tech's AI Investments

The U.S. Federal Trade Commission (FTC) has initiated a significant investigation into the relationships between major tech giants and leading artificial intelligence (AI) startups, particularly focusing on investments and partnerships. This move, spearheaded by FTC Chair Lina M. Khan, is a response to growing concerns over how these collaborations might impact market competition and innovation in the rapidly evolving field of generative AI.

The inquiry targets prominent companies like Alphabet Inc., Amazon.com Inc., Microsoft Corp., OpenAI Inc., and Anthropic PBC. The FTC’s primary objective is to build a comprehensive understanding of the nature of these relationships and their potential implications on the competitive landscape. This investigation is particularly relevant considering the significant investments and strategic partnerships that have been formed between these tech giants and AI developers.

One of the key aspects of this probe involves scrutinizing three major multi-billion-dollar investments: Microsoft’s collaboration with OpenAI, Amazon’s partnership with Anthropic, and Google’s investment in Anthropic. These deals are pivotal in the AI sector, with Microsoft’s investment in OpenAI being particularly notable due to its magnitude and strategic implications.

The FTC is seeking detailed information from these companies, including the strategic rationale behind their partnerships and investments, the practical implications of these collaborations, and an analysis of their competitive impact. This includes understanding decisions around new product releases, governance or oversight rights, and regular meetings. Additionally, the FTC is interested in how these partnerships affect key products and services essential for AI development.

This investigation is part of a broader effort by regulatory bodies to understand and potentially regulate the influence of tech giants in emerging technology sectors. The outcomes of this inquiry could have significant implications for the future of AI development and the role of large corporations in shaping the trajectory of technological innovation.

The investigation’s findings, once completed, might inform future actions by the FTC, potentially leading to changes in how such partnerships and investments are approached and regulated. It underscores the increasing attention that regulatory bodies are paying to the tech industry, particularly in areas of cutting-edge technology like AI.

FTX Seeks to Liquidate $1.4 Billion Anthropic Stake Amid Bankruptcy Proceedings

With the intention of selling its 7.84% ownership in Anthropic, an artificial intelligence business that was valued at about $18 billion as of December 2023, the defunct cryptocurrency exchange known as FTX is requesting permission from the court to do so. According to estimates, the value of this investment is somewhere about $1.4 billion. Following the collapse of FTX in November 2022, this step is a part of the company’s attempts to recover cash and completely reimburse consumers and creditors. Sam Bankman-Fried, who had previously served as the CEO of FTX, first used client deposits to make an investment of around $530 million in Anthropic via Alameda Research, which is a sister business of FTX. It was originally via this investment that Alameda was able to acquire a 13.56% share in Anthropic; however, following further fundraising rounds, this stake was reduced to 7.84%.

FTX is attempting to have its sale motion reviewed in a shorter amount of time, with the goal of reaching a decision by the time a meeting of the bankruptcy court is set to take place on February 22, 2023. There is a strong chance for FTX to raise the monies required to satisfy its financial commitments and optimize returns for stakeholders via the sale of the Anthropic interest, which is seen as a major opportunity. For the purpose of making the sale easier, a number of other approaches, such as auctions or private discussions, are being investigated. This strategic disposal is in line with FTX’s larger asset liquidation plan, which is designed to pay client commitments. Additionally, it highlights the company’s commitment to indemnifying clients who have been negatively impacted.

As part of a bigger attempt to liquidate assets, FTX is exploring the possibility of selling its share in Anthropic. Over the course of the previous three months, the company has sold more than 700 million dollars worth of cryptocurrencies, in addition to selling a significant amount of its GBTC investments for over 600 million dollars. In addition, the firm has taken steps to sell a claim against the defunct cryptocurrency lender Genesis, which is worth $175 million. This action demonstrates that the corporation is prioritizing the recovery of assets and the compensation of customers above the intentions to relaunch the exchange. According to the most recent information, FTX has been successful in amassing more than seven billion dollars’ worth of recovered assets. The company intends to disperse these monies depending on the values of cryptocurrencies in November 2022, after the asset recovery phase has been completed.##

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