According to sources, the artificial intelligence startup Anthropic PBC is finalizing the last details of a funding round that could raise over $20 billion, expected to be completed as early as next week.
Due to investor interest exceeding expectations, this competitor to OpenAI initially sought to raise $10 billion but is now expected to raise more than double that amount, with a valuation reaching $350 billion.
In Anthropic's latest funding round, it has already secured over $1 billion each from Coatue Management, the Government of Singapore Investment Corporation (GIC), and Iconiq Capital, along with up to $15 billion from strategic investors Nvidia and Microsoft.
This latest round of funding will nearly double Anthropic's previous valuation. Just five months ago, the company raised $13 billion—marking a frenzy among investors driven by the soaring revenue run rate of AI startups (which surpassed $9 billion last summer).
The deal has not yet been officially finalized, and the timing or specific terms may still change. According to those familiar with the negotiations, OpenAI supporters Altimeter Capital Management and Sequoia Capital are also expected to participate in this round of investment. Lightspeed Venture Partners and Menlo Ventures are also among the participants.
Anthropic has just had a remarkable week, launching a new AI model specifically designed to optimize automated business tasks, which triggered a sell-off worth billions in the software and financial services industries. Over the past year, Anthropic's coding agent (capable of writing software with minimal human intervention) has become the preferred tool for businesses and developers.
Anthropic's coding capabilities are seen as potentially ushering in a new era of autonomous AI technology in the workplace, with investors betting that the company's tools will have a similar impact across other economic sectors.
As Anthropic advances its latest funding round and plans for an employee buyout, its competitor OpenAI is also negotiating to raise up to $10 billion, which would mark another record-breaking AI funding round. Both companies have taken steps this year to prepare for an IPO.
As AI valuations soar, companies are also facing concerns about massive expenditures on data centers, chips, and talent, which are necessary to support technology development; additionally, there are worries about the &#34;recycling&#34; nature of some funding from suppliers like Nvidia

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Artificial intelligence startup Anthropic PBC is conducting a funding round expected to raise over $20 billion, with a valuation reaching $350 billion. The initial target of $10 billion has been significantly increased due to higher-than-expected investor demand. This funding has already secured over $1 billion in investments from Coatue Management, the Government of Singapore Investment Corporation, and Iconiq Capital, as well as a $15 billion injection from NVIDIA and Microsoft. The company has performed exceptionally well over the past year, with its new AI models attracting widespread attention in the industry

- Anthropic PBC is finalizing details for a financing round expected to raise over $20 billion, potentially valuing the company at $350 billion.  
- The funding is driven by investor interest, surpassing its original $10 billion target, with significant contributions from Coatue Management, GIC, and Iconiq Capital.  
- As Anthropic advances its funding efforts alongside its peers, concerns rise about the substantial expenses related to AI development and investments in infrastructure and talent.

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$10 billion is simply not enough! Investors rush to increase their stakes in Anthropic, with the oversubscription frenzy pushing financing to $20 billion