Anthropic has doubled its fundraising target to $20 billion at a $350 billion valuation, according to Financial Times reports. The AI company initially planned to raise $10 billion but increased the target due to strong investor demand. The round is expected to close soon, with Coatue Management, Singapore sovereign wealth fund GIC, and Sequoia Capital among the backers.
The $350 billion valuation represents nearly double Anthropic's $183 billion valuation from a $13 billion raise completed in September 2025. At that time, the company reported run-rate revenue had grown from approximately $1 billion at the start of 2025 to over $5 billion by August. The funding round is separate from commitments announced in November 2025, when Microsoft pledged to invest up to $5 billion and Nvidia pledged up to $10 billion in Anthropic.
As part of that arrangement, Anthropic agreed to purchase $30 billion of compute capacity from Microsoft Azure running on Nvidia chips. Anthropic, founded in 2021 by former OpenAI executives Dario and Daniela Amodei, develops the Claude family of large language models and Claude Code developer tool. The company reported its Claude Code tool generated run-rate revenue exceeding $500 million and business accounts topped 300,000 as of September.
Major existing investors include Amazon, which committed $8 billion to the company in 2024, and Google, which holds approximately 14 percent of Anthropic according to court documents. The company has hired law firm Wilson Sonsini Goodrich & Rosati and is in preliminary discussions with investment banks for a potential initial public offering that could occur in 2026. Anthropic expects to reach break-even in 2028. The funding arrives as AI companies command unprecedented valuations. OpenAI closed a financing round in October at a $500 billion valuation and is reportedly seeking an additional $100 billion. Elon Musk's xAI raised $20 billion at a valuation exceeding $230 billion earlier in January 2026.
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