Anthropic Launches $100 Million Fund in Competition with OpenAI

(VitalNews.org) – Anthropic has come up with a one hundred million dollar funding with Menlo Ventures that is set to compete against OpenAI.

Essentially, this deal is to help artificial intelligence startups and to push them to utilize their AI technology. Menlo would be the one putting up the funds, and Anthropic will give the founders twenty-five thousand dollars in credits to go towards their large language models.

The Anthology Fund is very similar to the partnership between Apple and Kleiner Perkins. Their funding agreement was named iFund and was introduced almost twenty years ago. Matt Murphy, a Menlo Ventures partner, said that the iFund was the inspiration behind this launch.

″That was wildly successful — it really gave Apple a lens into a whole set of early developers, and what they need to be more attentive to,” Murphy said. “It also gave developers a direct lens into some of the things that Apple was thinking about selling. There’s a lot of parallels here.”

Murphy said that artificial intelligence is moving much faster than iPhone development is. He continued to say that AI will be moving ten to one hundred times faster than what we’ve seen before when looking at technology and innovation.

Daniela Amodei, who co-founded Anthropic, said, “In AI, it’s very expensive to get started — it can actually be a deterrent to launching your company.” She continued, “Our goal here is to contribute that component. We’re providing credits and also some guidance on how to get started in the ecosystem.”

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