Sean Horgan

Head of Investor Relations @ MoneyLion

$shorgan

AMAZON’S AI POWERPLAY

? Amazon (AMZN) announced a whopping investment of up to $4 billion in AI firm Anthropic, securing a minority ownership stake. This move amplifies Amazon’s AI ambitions, positioning it alongside tech giants like Microsoft (MSFT) and Google (GOOG).

? Anthropic, birthed by ex-OpenAI leaders, recently introduced its AI chatbot, Claude 2. The collaboration between Amazon and Anthropic aims to propel generative AI, with Anthropic choosing Amazon Web Services (AWS) as its chief cloud provider and offering AWS users exclusive AI customization perks.

? The partnership also highlighted Amazon’s intent to diversify AI chip usage. While Nvidia (NVDA) reaped significant benefits from the AI surge, Amazon’s alliance with Anthropic showcases alternative semiconductors for AI, further solidifying Amazon’s vision of becoming the AI go-to hub.

Source: shutterstock

HOLLYWOOD’S WRITERS DEAL

? After nearly 150 days of striking, the Writers Guild of America (WGA) and the Alliance of Motion Picture and Television Producers (AMPTP) reached a tentative labor agreement. The prolonged strike was sparked by concerns over AI usage and compensation for streamed content.

? The WGA’s negotiation committee credited the strike’s success to the members’ solidarity and support from other unions. The exact provisions of the preliminary contract remain undisclosed, but the WGA assures it brings “meaningful gains and protections” for writers.

? While the WGA strike might be nearing its end, the AMPTP now shifts focus to SAG-AFTRA, the actors’ guild, which has been on strike since mid-July with demands mirroring those of the writers, including AI guardrails and equitable streaming residuals.

Source: shutterstock

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