Dropbox has announced its acquisition of cloud storage technology company Tigris Data for $350 million, a move aimed at strengthening its AI infrastructure. The deal is expected to close in the fourth quarter of 2026, and no layoffs are currently planned as a result of the acquisition. The acquisition will support DBX Agent Cloud, a storage platform designed for AI model and agent developers. DBX Agent Cloud will initially offer a standalone object storage product compatible with existing tools and applications built on Amazon S3.