Anthropic reportedly eyes $10B raise at $350B valuation

Artificial-intelligence company Anthropic is reportedly in talks to raise $10 billion in a new funding round that would value the company at $350 billion. According to reports from The Wall Street Journal and TechCrunch, which confirmed the details with a person familiar with the matter, the company is expected to close the financing in the coming weeks. However, sources familiar with the matter caution that the negotiations are still active and the total deal amount could change before the transaction is finalized. Anthropic declined to comment on the reports.

The upcoming round is set to be led by the investment management firm Coatue Management and GIC, Singapore’s sovereign wealth fund, according to sources familiar with the deal. This capital injection follows a steep valuation trajectory for the startup over the past year, as shown by its recent funding history:

• Three months ago: Anthropic raised a $13 billion Series F round—which is a late-stage funding round—at a $183 billion valuation.
• In March: The company secured $3.5 billion in an earlier funding round that valued it at $61.5 billion.

This new financing is separate from a recent $15 billion commitment from Nvidia and Microsoft, which act as investors and compute partners. That transaction was structured as a “circular deal”—which is a financial arrangement where capital is invested and then used to purchase services from the investor. Under this specific arrangement, Anthropic is purchasing $30 billion in compute capacity, which refers to cloud computing resources, from Microsoft Azure, according to the report on the deal.

The fresh capital arrives as Anthropic continues to deploy its technology, including Claude Code, the company’s coding automation tool powered by its Claude Opus 4.5 AI model. At the same time, Anthropic is preparing for a potential IPO this year. This public offering preparation positions the company directly alongside its competitor, OpenAI. OpenAI is also reportedly in talks to raise as much as $100 billion, a transaction that could value the rival firm at up to $830 billion, according to sources familiar with those talks.

Why it matters

The reported raise nearly doubles the AI firm’s value, following a $13 billion Series F round just three months prior. This rapid escalation highlights the capital requirements of the artificial-intelligence sector and the continued willingness of investors to fund capital-intensive infrastructure.