What changed
Dropbox announced a $350 million acquisition of Tigris Data, its largest deal to date, to bolster its AI infrastructure. The acquisition is expected to close in the fourth quarter of 2026. The deal will support the development of DBX Agent Cloud, a new storage platform for businesses and developers building AI models and agents. Dropbox also plans to integrate more AI capabilities into its core product, allowing users to perform supported tasks using their files, choose between different AI models, and connect their Dropbox content to third-party tools like ChatGPT, Claude, and Muse.
What this means in practice
DBX Agent Cloud will initially offer object storage as a stand-alone product, compatible with Amazon S3. This allows businesses to purchase storage independently and use it with existing tools. The platform also plans to expand with additional capabilities to help AI systems work with different types of content, including documents, images, audio, and video. Filesystem features will let AI agents manage files and maintain continuity across tasks and sessions. The updated experience has reached over 70,000 teams, with initial rollout available to eligible Standard and Advanced customers in the U.S., U.K., and Australia, with broader availability planned for 2027.
Limitations and availability
The acquisition is expected to close in Q4 2026, and Dropbox currently has no plans to reduce headcount as part of the deal. Tigris Data, founded by former Uber engineers, provides cloud storage technology that positions data closer to users and computing resources, improving performance. The company raised $25 million in a Series A round last year. This acquisition is part of Dropbox’s ongoing strategy to expand its AI capabilities through M&A, following previous acquisitions of Reclaim.ai, Promoted.ai, and Mobius Labs.
