Friday Funding: Anthropic Raises $300 Million

By: James Flippin · March 10, 2023 · Reading Time: 3 minutes

AI Investment Bonanza

The San Francisco-based AI company, Anthropic, just raised $300 million to reach a total valuation of $4.1 billion.

This funding round was led by Spark Capital, and comes less than a month after the startup received between $300 and $400 million from Google (GOOGL). Google reportedly owns a 10% stake in the AI startup.

Anthropic’s key product may sound familiar: an AI assistant capable of responding to complex queries. But the company’s generative AI chatbot, Claude, differs from OpenAI’s ChatGPT in one major way.

Responsible AI

Claude is still in closed beta mode, and not yet available to the public. However, Anthropic has released a white paper expanding on its goals for the chatbot, illuminating one key differentiating factor.

In its development of Claude, Anthropic has placed a major emphasis on safety. Anthropic is designing the AI tool to be predictable, steerable, and easy to interpret. But, unlike ChatGPT, which has garnered criticism from the likes of OpenAI co-founder Elon Musk for restrictions placed on its responses, Claude will not rely on “human labels” of what is — or is not — harmful.

“The only human oversight is provided through a list of rules or principles,” Anthropic writes. Supposedly, this will enable the AI assistant to avoid giving harmful responses based on, in essence, its own judgment. And, notably, it will also enable it to combat harmful prompts by explaining why they are dangerous.

How to Leverage Generative AI

Generative AI is going through an arms race right now, with companies deploying hundreds of millions to try and develop the best tool on the market. The possible uses for these tools are multiplying even faster. Generative AI can currently be used to create marketing content, assist sales teams, respond to customer service queries, handle coding queries, and much more.

As these companies compete to grow and develop their products, they will likely offer incentives to entice consumers away from other AI tools and toward theirs. For example, ChatGPT has remained free since its launch last November. So, if you haven’t already, it’s worth exploring the services to see if they provide value to you.

And, if you find the current offerings lacking, keep your eyes peeled for more news from Anthropic. The startup plans on expanding access to Claude in the coming months.

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