The AI contender to the apparent market leader finished a $2 million funding round and now has a $60 billion valuation.

Google is making a fresh investment of more than $1 billion into AI startup Anthropic, the Financial Times reported on Wednesday.

The cash infusion comes on top of the $2 billion that Google has already provided to the artificial intelligence developer. Separately, Anthropic is said to be raising $2 billion from a group of institutional investors led by Lightspeed Venture Partners. The latter deal is expected to value the company at $60 billion.

The new tranche of money from Google into Anthropic adds to a total investment of $8 billion from Amazon, the ecommerce group’s largest-ever venture investment, announced over the past 18 months. Amazon is also working to embed the Claude models into the next-generation version of its Alexa speaker.

Alphabet Inc.’s Google is backing artificial intelligence developer Anthropic with a further $1 billion, building its stake in one of the most promising rivals to OpenAI.

Google is pumping another one billion dollars into generative AI company Anthropic after investing more than two billion last year.

Google might have just invested another billion dollars into Anthropic, who is one of the main rivals of OpenAI.

Google has announced another $1 billion investment into Anthropic, bringing its total investment in the AI company to $3 billion. That’s still peanuts compared to Amazon’s total $8 billion investment in Anthropic.