"Anthropic is in the final stages of raising $20 billion in new capital at a valuation of $350 billion, Bloomberg reports, with investor demand leading the company to raise twice the funding it set out to obtain. The company raised $13 billion in equity funding just five months ago, but intense competition between frontier labs and the ongoing cost of compute have made them eager to raise as quickly as possible."
"Funds expected to participate in the round include Altimeter Capital Management, Sequoia Capital, Lightspeed Venture Partners, Menlo Ventures, Coatue Management, Iconiq Capital, and Singapore's sovereign wealth fund, but the bulk of the funding is said to come from the company's strategic partners Nvidia and Microsoft. Anthropic is building on recent successes, most notably the deployment of its coding agents, which have software engineers raving about increased coding productivity."
"Last week, the company's release of new models focused on legal and business research rattled the share prices of publicly-traded data firms as investors worried about the ability of AI to disrupt their businesses. Anthropic's rival, OpenAI, is reportedly assembling a new $100 billion fundraising round, and both companies are thought to be preparing IPOs ahead of a blockbuster summer in the markets, with xAI, recently acquired by SpaceX, also tapping public equity as part of the rocket maker's IPO."
Anthropic is finalizing a $20 billion capital raise at a $350 billion valuation after investor demand doubled the intended funding. The company previously raised $13 billion five months earlier. Large investors include Altimeter Capital, Sequoia, Lightspeed, Menlo, Coatue, Iconiq, and Singapore's sovereign wealth fund, while Nvidia and Microsoft are providing the bulk of the capital. Anthropic deployed coding agents that increased engineers' productivity and released models for legal and business research that pressured data firms' stock prices. OpenAI is reportedly seeking $100 billion, and several frontier AI companies are preparing IPOs before a busy market summer.
Read at TechCrunch
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