Earlier this week, Anthropic received a $2.5B, five-year revolving credit line to amp up its liquidity in an ever-expanding – and expensive – competition in the artificial intelligence industry, CNBC’s Hayden Field reports. Anthropic, founded by former OpenAI research executives, launched its Claude chatbot in March 2023. The company closed its latest funding round in March at a $61.5B valuation, and the new credit facility adds to that, the author notes. The generative AI market is poised to top $1 trillion in revenue within a decade. Companies from Google (GOOGL) and Amazon (AMZN) to Anthropic and Perplexity are racing to announce new products and features, especially as the race to build “AI agents” intensifies. Microsoft (MSFT)-backed OpenAI announced similar news in October, when CNBC reported it had received a $4B revolving line of credit.

Confident Investing Starts Here:

Quickly and easily unpack a company's performance  with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox  with TipRanks' Smart Value Newsletter

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See the top stocks recommended by analysts >>

Read More on GOOGL:

Disclaimer & DisclosureReport an Issue

Charter to combine with Cox, Take-Two reports mixed Q4 results: Morning Buzz Investor Stanley Druckenmiller Sells Alphabet (GOOGL) Stake, Loads Up on Taiwan Semi Unusually active option classes on open May 16th Google surpasses IBM in generative AI-related patents, Axios reports Alphabet Wins Big as AI Lures 150M Subscribers to Google One

View Comments