Deal funds DBX Agent Cloud, an object storage service aimed at companies building AI models and agents.

Dropbox agreed to acquire cloud storage company Tigris Data for $350 million, which the company calls its largest acquisition to date. The purchase supports DBX Agent Cloud, a new storage platform for businesses and developers building AI models and agents. Dropbox expects the transaction to close in the fourth quarter of 2026. Dropbox said it has no plans to cut headcount under the deal.

Former Uber engineers who helped build the ride-hailing company’s storage infrastructure founded Tigris Data. The Tigris platform positions data closer to the users and compute resources that need it, which cuts access times. Tigris Data raised $25 million in Series A funding last year. Dropbox has previously bought Reclaim.ai, Promoted.ai, and Mobius Labs to expand its AI capabilities.

DBX Agent Cloud will first sell object storage as a standalone product, so teams can buy capacity on its own and pair it with tools built for Amazon S3. Dropbox also adds AI features to its core product, letting users run supported tasks on their files, pick between models, and connect content to ChatGPT, Claude, and Muse. More than 70,000 teams already use the updated experience.

Dropbox limits the first rollout to eligible Standard and Advanced customers in the U.S., U.K., and Australia, with broader availability planned for 2027. Later releases will add document, image, audio, and video handling along with filesystem features that let AI agents manage files and hold context across tasks and sessions.

What matters

• Dropbox agreed to buy cloud storage company Tigris Data for $350 million, with the deal closing in Q4 2026.
• Tigris places data near the users and compute that need it, cutting access latency for AI workloads.
• Dropbox plans broader DBX Agent Cloud availability in 2027 and adds support for images, audio, and video.

Why it matters

Dropbox plans broader DBX Agent Cloud availability in 2027 and adds support for images, audio, and video.

This GenAI News article was prepared in original wording using reporting and materials published by TechCrunch AI. Source reference: https://techcrunch.com/2026/11/05/dropbox-acquires-tigris-data-for-350m-to-bolster-its-ai-iinfrastructure/.

Drafted by the GenAI News review pipeline.