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Amazon’s $4 billion investment in AI firm Anthropic faces UK merger
investigation
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Tech


AMAZON’S $4 BILLION INVESTMENT IN AI FIRM ANTHROPIC FACES UK MERGER
INVESTIGATION

Published Thu, Aug 8 20247:25 AM EDTUpdated Thu, Aug 8 202412:16 PM EDT
Ryan Browne@Ryan_Browne_
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Key Points
 * The U.K. Competition and Markets Authority has begun a “Phase 1”
   investigation into Amazon’s investment and partnership with Anthropic.
 * The CMA’s probe will assess whether the Amazon-Anthropic deal has resulted in
   a relevant merger situation that may harm competition in the U.K.
 * Amazon has invested $4 billion into Anthropic and partnered with the firm to
   make its AI models available on Bedrock, Amazon’s platform for building
   generative AI applications.

In this article

 * AMZN+1.17 (+0.71%)

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Dario Amodei, co-founder and CEO of artificial intelligence startup Anthropic.
Chesnot | Getty Images

LONDON — E-commerce giant Amazon’s multibillion-dollar investment in the U.S.
artificial intelligence firm Anthropic is formally being investigated by a U.K.
competition regulator.

The Competition and Markets Authority said Thursday that it has begun a “Phase
1” investigation into Amazon’s investment and partnership with Anthropic to
assess whether the deal has resulted in a relevant merger situation that may
harm competition in the U.K.



Following initial scrutiny into the Amazon-Anthropic partnership, the CMA now
has “sufficient information” in relation to the tie-up to begin a formal probe,
the regulator said in a notice on its website.

The CMA now has up to 40 working days to decide whether the transaction could
harm competition and should therefore be scrutinized further in an in-depth
“Phase 2” investigation.

Amazon completed in March a $4 billion investment in Anthropic. The deal
consisted of an initial $1.25 billion equity stake in September, followed by a
further $2.75 billion transaction finalized earlier this year.



As part of the deal Amazon will make Anthropic’s powerful large language models
available on its Bedrock platform for building generative AI applications.
Anthropic’s models will also be trained and deployed on Amazon’s own custom AI
chips, which were built by its Amazon Web Services cloud computing division.

In a statement to CNBC, an Amazon spokesperson said the company is
“disappointed” the CMA proceeded with an initial Phase 1 merger probe, adding
that its collaboration with Anthropic “does not raise any competition concerns
or meet the CMA’s own threshold for review.”



“By investing in Anthropic, Amazon, along with other companies, is helping
Anthropic expand choice and competition in this important technology. Amazon
holds no board seat nor decision-making power at Anthropic, and Anthropic is
free to work with any other provider (and indeed has multiple partners),” the
spokesperson said via email.

Amazon’s spokesperson added that the company will continue to make Anthropic’s
models available to customers via Bedrock.

An Anthropic spokesperson told CNBC: “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.”

“Amazon does not have a seat on Anthropic’s board, nor does it have any board
observer rights,” the Anthropic spokesperson added. “We welcome the opportunity
to cooperate with the CMA and provide them with a comprehensive understanding of
Amazon’s investment and our commercial collaboration.”

watch now
VIDEO4:1804:18
‘Amazon needed this’, says Jefferies Brent Thill on tech giant’s AI investment
Closing Bell: Overtime


The Amazon-Anthropic pact is not the only deal facing scrutiny from regulators
in the U.K.

The CMA is separately scrutinizing U.S. software giant Microsoft’s
multibillion-dollar partnership and investment in AI giant OpenAI.

However, the watchdog is yet to reveal whether it will begin a Phase 1
investigation into the Microsoft-OpenAI partnership.

Stateside, the U.S. Federal Trade Commission in January sent orders to tech
giants Microsoft, Amazon and Google, along with AI firms OpenAI and Anthropic,
requiring them to share information about their respective recent investments
and partnerships.

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inbox every Friday.
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Some smaller tech companies have criticized Big Tech firms over their strategy
of building stakes in some of the key companies building advanced AI systems to
get closer to them.

In May, Matt Calkins, CEO of enterprise software firm Appian, told CNBC that
getting as much data as possible and acquiring stakes in fast-growing AI
startups won’t necessarily result in success in the field.

“This is a market for the clever,” Calkins said. “The fact that you’ve got
enough money to buy, or buy a piece of, Anthropic or Mistral or any of that,
that’s impressive. But AI may not be a ‘winner take all’ market.”

“There’s going to be different AI algorithms for different purposes, and they
are going to be much more or less valuable, depending on whether and how you’ve
loaded your own data into it,” he added.


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