Google LLC is planning to invest $750 million more in AI start-up Anthropic in September through convertible debt, the New York Times reported on Tuesday, citing court documents it obtained.
According to the filings, Google currently owns 14% of Anthropic shares while also holding no voting rights and not having representatives on the board. It was further revealed that Google cannot take a stake that is higher than 15%.
The filings were provided by Anthropic for the Google antitrust case, with the AI start-up insisting that the tech giant shouldn't be obliged to divest its stake, as this action would "harm both Anthropic and competition more generally."