According to a recent report, Anthropic is in the final stages of raising twenty billion dollars in new capital. This funding round would value the company at three hundred and fifty billion dollars. Investor demand has been so strong that the company is now raising twice the amount of funding it originally sought.
This news comes just five months after Anthropic raised thirteen billion dollars in equity funding. The intense competition between leading artificial intelligence labs and the ongoing high cost of computing power have made the company eager to secure more capital as quickly as possible.
Several funds are expected to participate in this new round. These include Altimeter Capital Management, Sequoia Capital, Lightspeed Venture Partners, Menlo Ventures, Coatue Management, Iconiq Capital, and Singapore’s sovereign wealth fund. However, the majority of the funding is said to come from Anthropic’s strategic partners, Nvidia and Microsoft.
Anthropic is building on recent successes. Notably, the deployment of its coding agents has software engineers praising the tools for significantly increasing coding productivity. Last week, the company released new models focused on legal and business research. This announcement rattled the share prices of publicly-traded data firms, as investors grew concerned about the potential for AI to disrupt those businesses.
The competitive landscape remains fierce. Anthropic’s rival, OpenAI, is reportedly assembling a new one hundred billion dollar fundraising round. Both companies are thought to be preparing for initial public offerings ahead of what could be a blockbuster summer in the markets. Additionally, xAI, recently acquired by SpaceX, is also expected to tap public equity as part of the rocket maker’s own IPO.