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- 1 FTX backed artificial intelligence platform just declined an OpenAI merger offer.
- 2 Anthropic gathered $500 Million from FTX and some of its officials.
- 3 In between 2022 to 2030, the AI market is expected to grow at a rate of 32.9% CAGR.
Anthropic, a FTX-funded artificial intelligence company and its co-founder Dario Amodei refused the offer of the OpenAI board of directors to merge. The proposal for the merger was made after Sam Altman was fired as CEO.
Persons familiar with the matter believe that Amodei also received the offer to hold the vacant position of OpenAI founder. A related report states that “ It’s not clear whether the merger proposal led to any serious discussion.”
However the news of the merger proposal was also covered by the international media outlet Reuters. As per the bankruptcy filing of FTX, it invested $500 Million in Anthropic and the firm is yet to sell its stake.
Other than FTX, the artificial intelligence company raised funding from Zoom Ventures, Seven Rivers Capital and Google including dozens others. Crunchbase data shows that the company has 6 lead investors and 24 investors as a whole.
Will Anthropic Become the Leader of the AI Market?
OpenAI came into the limelight following the launch of ChatGPT last year. The major backers of OpenAI are Khosla Ventures, Microsoft and Reid Hoffman Foundation. Although there are few other investors of OpenAI including Arrowshare Ventures, Thrive Capital, SVA, Andreessen Horowitz, Founders Fund, Wisdom Ventures, K2 global, Sequoia Capital and Tiger Management.
Till date, the company has raised $11.3 Billion in funding in eight funding rounds. It is important to note that the AI company has invested in dozens of AI budding projects including KudoAI, American Journalism Project, Oikeus.AI, Ava,Across Labs,EdgeDB, Descript and Ambience Healthcare.
In August 2023, OpenAI acquired Global Illumination for the sum of $100 Million. If OpenAI’s popularity continues to decline, then there are possibilities that Anthropic can capture its position in the market.
Till 2022, the entire AI market was valued at over $200 Billion and that figure is expected to reach $2 Trillion by the end of 2023. AI is undoubtedly a rapidly evolving sector.
Between 2022 and 2030, the AI market is expected to grow at a rate of 32.9% CAGR. Investment in the AI industry has fueled the modernization of technology and the AI has entered almost every industry for its contribution.
Following the advancement of AI, stocks of processors and chip making companies’ stock grew over 5x in the past few years. North America is one of the largest hubs for AI followed by Asia-Pacific with a valuation of $19 Billion.
The AI chip market doubled in value since 2021. In 2021, it was $10.8 Billion and in 2023 it is around $22 Billion. The chip market is expected to grow around 6x in the upcoming five years.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
