Amazon to Invest an Additional $5 Billion in Anthropic (3)

Amazon.com Inc. is investing an additional $5 billion in Anthropic PBC and may inject $20 billion more over time, a deal that strengthens ties in in an increasingly competitive artificial intelligence race.

The deal was struck at a valuation of $350 billion, not including the new funding, Anthropic said. That signals Amazon negotiated more preferable terms than other investors recently. Anthropic clinched a $30 billion funding round in February that valued the San Francisco-based startup at $380 billion, and has since drawn investor offers at a valuation of over $800 billion.

Anthropic, which makes the Claude chatbot and ...