Anthropic targets $20B raise at $350B valuation as investor demand surges

Anthropic is set to raise about $20 billion from venture capital firms and other investors, double its initial target, as demand to back the artificial intelligence startup surged, according to a Financial Times report.

The fundraising round, which is close to being finalized, would value Anthropic at roughly $350 billion, positioning it among the most valuable private technology companies globally.

The increase from the original $10 billion target reflects investor demand estimated at five to six times the initial raise. Anthropic is expected to secure an initial $10 billion to $15 billion as early as Tuesday, with the remainder of the round completed in the coming weeks.

Singapore sovereign wealth fund GIC and US investor Coatue are leading the deal, with Sequoia Capital also participating. Existing backers including Iconiq Capital, Lightspeed Venture Partners, Menlo Ventures, G Squared, and Factorial Funds are expected to join the round.

In parallel with the financial raise, Microsoft and Nvidia have committed up to an additional $15 billion in strategic investment.

The fundraising talks come as Anthropic prepares for a potential initial public offering that could take place as soon as this year.

Anthropic has emerged as a leading developer of AI systems, with strong enterprise adoption driven by its focus on business customers and the growing popularity of its Claude Code tool.

The company was co-founded by chief executive Dario Amodei after his departure from OpenAI in 2020 following disagreements over AI governance and safety.