Anthropic reportedly upped its latest raise to $20B

Anthropic has doubled the amount of VC funding it aims to raise, the FT reports, increasing the target from $10 billion to $20 billion. The round, expected to close soon, will give the company a valuation of $350 billion, sources told the FT.  

Anthropic, which makes the popular AI Claude and the equally popular Claude Code, decided to double its funding target due to booming investor interest. Backers in this round are expected to include Sequoia Capital (which also invests in its rival OpenAI), Singapore’s sovereign wealth fund, and investment management firm Coatue, per the FT. 

Late last year, it was reported that Anthropic hired lawyers as a step toward prepping for an IPO that could come sometime this year. The company announced a $13 billion raise in September, making it one of the industry’s most valuable private companies, valued at $183 billion.