Anthropic is in the final stages of raising a $20 billion capital infusion at a valuation of $350 billion, according to Bloomberg. Investor demand has pushed the company to seek twice the amount it originally targeted. The round includes participation from a range of venture firms and strategic partners, notably Nvidia and Microsoft, which are expected to provide the bulk of the funding. Anthropic recently rolled out new AI models for legal and business research and introduced coding agents that have been praised for boosting developer productivity. The fundraising effort comes amid intense competition among frontier AI labs and rising compute costs, with rivals like OpenAI also gearing up for large capital raises and potential IPOs. Read more →

OpenAI is reportedly in talks to raise up to $100 billion in a new funding round that could value the ChatGPT maker at as much as $830 billion, according to the Wall Street Journal. The company aims to secure the capital by the end of the first quarter of next year and may seek investments from sovereign wealth funds. The infusion would support OpenAI’s accelerating spend on inferencing and compute, while the firm faces heightened competition from rivals such as Anthropic and Google amid a broader cooling of investor sentiment toward AI spending. Read more →