Alphabet's (GOOG) partnership with AI safety and research firm Anthropic PBC does not meet the criteria for a relevant merger situation under United Kingdom law and does not require further investigation, the Competition and Markets Authority said on Tuesday.
The partnership includes acquisitions of non-voting shares in Anthropic, convertible debt financing, and agreements for compute services and FM distribution via Google's Vertex AI.
The CMA concluded that Google has not acquired material influence over Anthropic, as Google's involvement in the partnership does not include outright control or the ability to significantly influence Anthropic's strategic direction.
Additionally, the CMA said it found that the UK turnover test was not met, as Anthropic's UK turnover does not exceed 70 million pounds sterling ($88.5 million).
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.