Dropbox acquires Tigris Data for $350M to bolster its AI infrastructure
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Dropbox has announced a $350 million acquisition of cloud technology firm Tigris Data, marking its largest purchase to date as it intensifies its focus on AI infrastructure. The deal aims to strengthen the company's capabilities for DBX Agent Cloud, a new storage platform designed for businesses and developers building AI models. Expected to close in the fourth quarter of 2026, the transaction will not involve immediate headcount reductions despite recent layoffs. Tigris Data, founded by former Uber engineers, provides cloud storage technology that optimizes data positioning to reduce access times. Alongside this strategic move, Dropbox is enhancing its core product with AI features that allow users to interact with files using various models like ChatGPT and Claude. These updates include expanded support for different content types and filesystem features for AI agents, currently reaching over 70,000 teams. This acquisition follows previous moves into AI through purchases such as Reclaim.ai and Promoted.ai.
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