Anthropic closes in on $20B round

Anthropic is in the final stages of raising $20 billion in new capital at a $350 billion valuation, with investor demand pushing the company to seek twice the funding it had originally planned. The firm raised $13 billion in equity five months ago, and intense competition among frontier labs and rising compute costs have accelerated its push to secure more capital.

Expected participants include Altimeter Capital Management, Sequoia Capital, Lightspeed Venture Partners, Menlo Ventures, Coatue Management, Iconiq Capital and Singapore’s sovereign wealth fund. The bulk of the new funding is said to come from Anthropic’s strategic partners Nvidia and Microsoft.

Anthropic has built on several recent wins, notably the deployment of coding agents that engineers say boost productivity. Its latest models aimed at legal and business research also unsettled the share prices of publicly traded data firms, as investors weighed the potential for AI to disrupt their businesses.

Singapore

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