Updated November 3, 2023 at 1:41 p.m. ET
AmazonGoogle and Microsoft spent the last year investing billions of dollars in artificial intelligence startups, while charging these fledgling companies a similar amount for use of their cloud platforms.
These deals make big tech companies the biggest backers and most direct beneficiaries of these startups, mirroring how some of the The biggest rewards of the AI boom continue towards the most powerful players. The value of tech giants’ stakes could explode if startups take off. And if not, they will still have transformed sums of money into income.
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