Topic: How To Invest

Power Growth Investor Hotline – Friday, September 29, 2023

Article Excerpt

AMAZON.COM INC., $127.12, symbol AMZN on Nasdaq, is a buy. The company is one of the world’s largest online retailers. It’s also the third-largest digital ad provider in the U.S. Through its Amazon Web Services (AWS), the company is one of the world’s largest providers of cloud infrastructure services. Amazon has just agreed to invest up to $4 billion in privately held artificial-intelligence company Anthropic; it will take a minority ownership position, committing an initial $1.25 billion. That amount that could grow to $4 billion over time and depending on certain conditions. As part of the agreement, Anthropic will use Amazon Web Services’ in-house chips to build, train, and deploy its AI software. It will make AWS its primary cloud provider. Anthropic, founded in 2021, offers an AI assistant called Claude that competes with ChatGPT. Led by siblings Dario and Daniela Amodei, who both used to work at OpenAI, the company believes that its technology is safer and more reliable than that of competitors. All…