UK CMA Clears Amazon's $4 Billion AI Partnership with Anthropic

Sep 27, 2024, 11:47 AM

Amazon's $4 billion investment pact with AI firm Anthropic has been cleared by the UK's Competition and Markets Authority (CMA). The CMA ruled that the deal does not qualify for an investigation under merger laws, as Anthropic's UK revenue did not meet the required limits. The decision means the partnership will avoid an in-depth probe and raises no competition concerns. This clearance offers some breathing space to U.S. tech giants over their ties to AI startups. $AMZN was up 0.1% in pre-market trading following the announcement.