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Earlier this week, Anthropic received a $2.5B, five-year revolving credit line to amp up its liquidity in an ever-expanding – and expensive – competition in the artificial intelligence industry, CNBC’s Hayden Field reports. Anthropic, founded by former OpenAI research executives, launched its Claude chatbot in March 2023. The company closed its latest funding round in March at a $61.5B valuation, and the new credit facility adds to that, the author notes. The generative AI market is poised to top $1 trillion in revenue within a decade. Companies from Google (GOOGL) and Amazon (AMZN) to Anthropic and Perplexity are racing to announce new products and features, especially as the race to build “AI agents” intensifies. Microsoft (MSFT)-backed OpenAI announced similar news in October, when CNBC reported it had received a $4B revolving line of credit.

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