Amazon’s deal with AI startup Adept faces FTC scrutiny

Posted under: Tech Move
Date: 2024-07-17
Amazon’s deal with AI startup Adept faces FTC scrutiny

The Federal Trade Commission has launched an informal inquiry into Amazon’s recently announced deal with AI startup Adept, CNBC has confirmed. The FTC is seeking more information about the agreement announced last month, which involved Amazon hiring key executives and licensing technology from Adept. The Adept deal marks Amazon’s latest high-profile AI bet. Amazon has also pumped billions of dollars into OpenAI competitor Anthropic and has developed generative AI products across its cloud computing, retail, and consumer electronics businesses.

Read more at: www.cnbc.com