The Administrative Council for Economic Defense (Cade) decided to archive the case investigating the investments made by Amazon in Anthropic and the terms of the agreements established between both companies this Wednesday, the 23rd.
The court based its decision on the fact that Amazon's minority stake did not require prior notification, since Anthropic's revenue in Brazil had not reached the level stipulated by current legislation. Furthermore, the decision dismissed the allegation of 'gun jumping,' a situation where a company executes an operation before obtaining due authorization from Cade.
Although the archiving concludes the current procedure, it does not prevent a reassessment if there are changes in the relationship between the companies or if issues arise that could harm market competition.
Analysis of Investment and Agreements
During the evaluation, Cade analyzed the minority investment made by Amazon in 2023, as well as the technological collaboration pacts signed between the two entities. The councilors followed the opinion of rapporteur José Levi Mello do Amaral Jr., who concluded that the agreements did not constitute a partnership with an autonomous structure intended to share decisions, risks, and results.
Among the aspects examined by Cade, Amazon argued that the agreements were not exclusive in nature and that the collaboration served to boost innovation. To demonstrate that Anthropic was not exclusively dependent on Amazon, the company also mentioned its connections with other partners and investors, such as Nvidia, Microsoft, Google, Broadcom, and SpaceX.
Cade recognized the increase in cooperation between Amazon and Anthropic and the growing proximity between them. However, the court did not identify any changes in how decisions are made that would justify classifying the partnership as a joint venture.
“Law No. 12.529/2011 offers structural and behavioral instruments that, when their respective prerequisites are observed, allow the authority to examine operations not captured by ordinary notification criteria and investigate practices capable of producing anti-competitive effects,” the rapporteur emphasized.
Cade has the prerogative to reexamine the partnership if there is a change in the way Amazon and Anthropic operate or if the agreements generate adverse impacts on competition. Factors that could motivate this new evaluation include technological or commercial dependence, difficulty in switching suppliers, access to confidential data, and potential restrictions on competitors.
Court's Position
Councilor Camila Cabral summarized the collegiate body's view, emphasizing the need for operations of this type to remain under special monitoring by Cade. Nevertheless, the procedural matter in question was closed by archiving.
