Google is making a fresh investment of more than $1bn into OpenAI rival Anthropic, boosting its position in the start-up as Silicon Valley titans rush to develop cutting-edge artificial intelligence systems.

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.

Google has decided to invest another billion into Anthropic, four sources told the Financial Times, bringing its total sunk cost to more than three billion dollars. Both companies have declined to comment.

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

Google is deepening its partnership with Anthropic after it invested an additional $1 billion in the AI startup, a contender of ChatGPT maker OpenAI. A fresh injection of funding for the AI start-up is underway after the tech giant reportedly made another huge investment into the startup,

Anthropic has reportedly raised around $1 billion from Google as the AI company looks to deliver a number of major product updates this year.