Alphabet’s (NASDAQ:GOOGL) Google has entered preliminary discussions to increase its stake in artificial intelligence startup Anthropic, Business Insider reported Thursday, citing sources familiar with the talks.
The potential agreement could value Anthropic at more than $350 billion and may take several possible forms — including a new strategic investment tied to expanded cloud service usage, a convertible note, or a priced funding round expected early next year, according to the report.
The exact size of Google’s potential investment and whether additional investors might participate have not yet been determined, the publication said.
Google has already invested over $3 billion in Anthropic, giving it a 14% ownership stake, according to previous reports.
Founded in 2021 by former OpenAI executives, Anthropic is the developer behind the Claude family of large language models. The company counts both Google and Amazon (NASDAQ:AMZN) among its key backers, as competition with OpenAI intensifies in the rapidly expanding AI sector.