# Dropbox Agrees to Buy Tigris Data for $350 Million to Expand Its AI Cloud

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/50442
Published: 2026-11-07T00:15:44.000Z
Updated: 2026-11-07T00:15:44.000Z
Section: Business

> The deal is expected to close in the fourth quarter of 2026. Tigris storage will support DBX Agent Cloud, starting with standalone storage compatible with Amazon S3 tools.

Dropbox agreed Thursday, Nov. 5, to acquire cloud storage company Tigris Data for $350 million, adding infrastructure for artificial intelligence workloads as it develops a service for businesses and developers building AI models and agents.

The acquisition is expected to close in the fourth quarter of 2026. Dropbox plans to use the deal to advance DBX Agent Cloud, whose first offering will be standalone object storage that customers can buy separately. The service is designed to work with tools and applications built for Amazon S3 (Simple Storage Service), Amazon’s cloud system for storing and retrieving large amounts of data.

Dropbox’s broader AI plans include letting users ask AI to perform supported tasks with their files, select among different AI models and connect Dropbox content to outside tools such as ChatGPT, Claude and Muse. The company also plans to add features for AI systems working with documents, images, audio and video. Other planned tools would let AI agents manage files and carry information forward across tasks and sessions.

The updated Dropbox experience has reached more than 70,000 teams. Eligible Standard and Advanced customers in the United States, the United Kingdom and Australia can use the initial rollout; wider availability is planned for 2027.

Tigris provides technology for storing and accessing data across regions. Its system places information in locations closer to the users and computing resources that need it, a design intended to reduce access times and improve performance. The company’s founders previously built storage systems while working at Uber.

Dropbox has made other acquisitions to expand its AI capabilities, including Reclaim.ai, Promoted.ai and Mobius Labs. Tigris raised $25 million in a Series A funding round last year. The fourth quarter of 2026 is the expected closing window for the Dropbox transaction.