Amazon to Invest Heavily in Anthropic; UK Sales Push Shein's Market Share Above 2%

In today's ExchangeWire news digest: Amazon commits up to USD$4bn (~£3.2bn) to Anthropic; sales in the UK push Shein's market share over 2%; and Thailand's prime minister shares expectations of investments from US tech giants.

Amazon commits billions to Anthropic

Amazon has said it will invest up to USD$4bn (~£3.2bn) into AI start-up Anthropic. The cash injection from the e-commerce giant signals its latest effort to keep pace with cloud rivals, such as Google and Microsoft.

Q4 sales bump Shein’s market value in the UK

Shein's share in the UK market has risen to 2.2% this year. The e-commerce behemoth amassed sales of £1.12bn during the final quarter of 2022, with an increase in demand for low-cost apparel also contributing to the company's growth.

Tesla, Microsoft to invest billions in Thailand, says prime minister

The prime minister of Thailand, Srettha Thavisin, has said the country expects investments of at least USD$5bn (~£4bn) from US tech giants. Companies including Google, Microsoft and Tesla will seek manufacturing and data facilities in the region, Thavisin told reporters in Bangkok.

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Fact of the Day

8.9% – Shein's share of the global apparel market as of 2022.

Source: Yahoo