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Google to invest $2 billion in AI startup, Biden VS the Speaker
Learn which startup Google will be investing $2 Billion into
David Shepherd
October 28, 2023
Google to invest $2 billion in AI startup
Alphabet Inc.’s GOOGL, -0.09% GOOG, -0.03% Google on Friday said it will pump up to $2 billion into AI startup Anthropic, expanding on an investment in the company earlier this year. Google injected $500 million up front in Anthropic, a rival of OpenAI, and agreed to add $1.5 billion more over time, according to a report in the Wall Street Journal, citing people familiar with the matter. The investment comes on the heels of a separate deal by Amazon.com Inc. AMZN, +6.83% in September to invest up to $4 billion in Anthropic, which was founded by former OpenAI engineers in 2021 with the goal of developing rival generative-AI models. Google already invested $550 million in Anthropic earlier this year.
Biden wants an extra $162 billion from Congress.
New House Speaker Mike Johnson faces a November 17 deadline to pass a funding bill to prevent a partial government shutdown in the U.S. Additionally, President Joe Biden has requested $162 billion in supplemental spending, with $106 billion allocated for Israel, Ukraine, and the U.S. southern border, and $56 billion for domestic priorities like disaster relief, child care, and high-speed internet.
The outlook for Israel receiving its full request appears positive, but there is less optimism for Ukraine. Growing opposition from the GOP, concerns about foreign wars, and Speaker Johnson's requirement for expenditure controls and close auditing may lead to changes in the request for Ukraine.
Biden is attempting to garner Republican support by including $14 billion for securing the U.S. southern border, but its effectiveness remains uncertain.
Regarding Biden's domestic proposal, which includes funds for disaster response, child care support, and internet access, analysts are not optimistic. They see limited prospects for approval, with some describing it as "dead on arrival."
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