Dropbox acquires tigris data for $350 million to enhance AI capabilities

Dropbox is significantly boosting its artificial intelligence infrastructure through the $350 million purchase of cloud technology firm Tigris Data, which reportedly represents the company's largest acquisition to date. The transaction, announced on Thursday, is slated to finalize in the fourth quarter of 2026. Dropbox confirmed that the acquisition will support the rollout of DBX Agent Cloud, a new storage platform designed for developers and businesses building AI agents. DBX Agent Cloud will initially provide object storage compatible with Amazon S3, allowing independent purchases. Beyond infrastructure, Dropbox is integrating AI directly into its main product, enabling users to query files using AI, select from various AI models, and connect content to third-party tools like ChatGPT and Claude. The company also plans to expand this with support for documents, images, audio, and video, alongside filesystem features for AI agent continuity. Tigris Data, founded by former Uber engineers, specializes in cloud storage that optimizes data placement for reduced access times. The company secured $25 million in a Series A round last year. While this is a major move, Dropbox has previously expanded its AI focus through acquisitions of firms such as Reclaim.ai, Promoted.ai, and Mobius Labs. The updated experience is already available to over 70,000 teams in the U.S., U.K., and Australia, with wider availability planned for 2027.