Dropbox agrees to buy Tigris Data for about $350 million to sell storage for AI workloads
The cash deal for the S3-compatible object-storage startup founded by former Uber engineers will underpin DBX Agent Cloud, a new offering for developers building AI models and agents; Dropbox expects it to close in the fourth quarter of 2026.
Why it matters
Dropbox is moving from selling file sync to selling infrastructure to AI developers, and Tigris gives it a ready-made multi-cloud object store that charges no egress fees. That pitch targets teams that keep data in one place while renting GPUs from several providers, a pattern where Amazon S3 transfer costs add up. Dropbox told TechCrunch it has no plans to cut headcount over the deal after cutting 9% of staff last month, as reported by WSJ. Watch DBX Agent Cloud pricing and whether GPU clouds keep partnering with Tigris under Dropbox ownership.
Key facts
- About $350 million in cash
- Definitive agreement signed November 3, 2026
- Announced November 5 with DBX Agent Cloud
- Closing expected in Q4 2026
- Tigris founded by former Uber engineers
- Tigris raised a $25 million Series A last year