Anthropic is planning to raise $10 billion in funds, valuing the cloud chatbot maker at $350 billion, according to multiple reports published on Wednesday.
New valuation shows almost double growth from four months ago cnbcIn which it was reported that the company had signed a term sheet in which the figure of $350 billion was set. The round may close within a few weeks, although the size and terms may change. Singapore’s sovereign wealth fund GIC and Coatue Management plan to lead the financing, The Wall Street Journal reports.
Insatiable demand for AI and growing enterprise adoption have driven tech spending globally, pushing valuations of AI startups like Anthropic to record levels, even as concerns about an AI bubble loom. OpenAI is valued at $500bn.
Anthropic had last raised $13 billion in its Series F round, valuing the company at $183 billion, the company said in early September. According to the Financial Times, the company also hired a law firm to prepare for an initial public offering, which could take place as early as 2026.
Founded in 2021 by former OpenAI staff, Anthropic’s cloud model has built a strong reputation among developers, especially for coding tasks.
Anthropic aims to more than double its annual revenue run rate this year, helped by the growing adoption of its enterprise products.
The startup, into which Amazon, Microsoft and Nvidia have poured billions of dollars, declined to comment.
