Anthropic Seeks $10B Funding at $350B Valuation

Anthropic, the San Francisco-based artificial intelligence startup behind the Claude chatbot, is in discussions to raise $10 billion in funding at a valuation of approximately $350 billion, nearly doubling its worth from four months earlier, according to sources familiar with the matter.

The proposed round, which could close in the coming weeks, would be led by Coatue Management and GIC, Singapore's sovereign wealth fund, with participation from other existing shareholders. Negotiations are ongoing, and the amount and terms remain subject to change. The company declined to comment on the talks, which were first reported by The Wall Street Journal.

This financing comes amid a surge in investments in the AI sector, as companies race to secure capital for developing advanced technologies. Building AI systems like chatbots requires substantial resources, including vast amounts of computing power, energy, and data for training models. Anthropic has committed to spending tens of billions on infrastructure, including a planned $50 billion investment in data centers in Texas and New York in partnership with cloud provider Fluidstack. The company is also the primary user of a massive...