Artificial intelligence startup Anthropic has appointed Krishna Rao as its first chief financial officer, the company announced on Tuesday.

The hiring comes as Anthropic plans to expand its AI offerings and better compete with rivals such as the Microsoft-backed OpenAI, makers of ChatGPT.

Rao, who previously served as finance chief at digital sports platform Fanatics Commerce and as global head of corporate and business development at Airbnb between 2018 and 2021, will help shape Anthropic's financial strategy and operations, the company said.
The move highlights Anthropic's ambitions in the AI sector, having raised billions from major tech giants like Google and Amazon.com, as well as other venture capital firms. The funding will allow Anthropic to keep pace with OpenAI as companies race to develop cutting-edge generative AI systems capable of producing human-like responses and content.

Of his appointment, Rao said: "I am thrilled to join Anthropic at such a pivotal moment in the company's journey.

"Anthropic's mission to build transformative AI systems that benefit humanity deeply resonates with me. I look forward to working with the exceptional team to build a strong financial foundation supporting the responsible development and deployment of our technology."

Last week, the company appointed Instagram co-founder Mike Krieger as its chief product officer, further bolstering its executive team.

According to reports from The Information, Anthropic projected it would generate more than $850 million in annualised revenue by the end of 2024, underscoring the significant financial opportunities in the AI market.

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