Dropbox acquires Tigris Data for $350M to bolster its AI infrastructure

Dropbox has acquired Tigris Data for $350 million to bolster its AI infrastructure, specifically to support the development of DBX Agent Cloud, a new storage platform for developers building AI models and agents. The acquisition is expected to close in the fourth quarter of 2026, and will not result in any immediate job cuts. DBX Agent Cloud will initially offer object storage as a standalone product, allowing businesses to use it with existing tools and applications built for Amazon S3. The platform will also allow users to ask AI to perform tasks using their files, choose between different AI models, and connect their Dropbox content to third-party tools like ChatGPT, Claude, and Muse. Dropbox also plans to expand DBX Agent Cloud with capabilities for working with different types of content, including documents, images, audio, and video, as well as filesystem features for managing files and maintaining continuity across tasks and sessions. The updated experience has already reached over 70,000 teams.