Anthropic has agreed terms on a new $30bn funding round that values the artificial intelligence company at $900bn, surpassing rival OpenAI’s current valuation of $852bn. The Financial Times reports that investment firms Dragoneer, Greenoaks, Sequoia Capital and Altimeter Capital will co-lead the round, with each likely contributing $2bn or more.
The deal is expected to close as soon as this month. Anthropic is still in discussions with additional investors to fill the remainder of the round, and terms could change before a formal announcement.
The speed of the deal is striking. Investors approached Anthropic just last month, and the company’s chief financial officer Krishna Rao began formal talks with prospective backers only in the past two weeks.
The fundraising comes just three months after Anthropic closed a separate $30bn round at a valuation of $350bn, nearly tripling its worth in that time. The driver behind investor enthusiasm is rapid revenue growth. Anthropic’s annualised revenues are expected to cross $45bn imminently, up from $9bn at the end of last year.
Notably, three of the four co-leading investors, Dragoneer, Sequoia and Altimeter, also back OpenAI. Big Tech companies including Amazon and Google, both previous major backers of Anthropic, are not currently expected to participate in this round.
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