Anthropic seeks $5B funding, tripling its valuation in 2024
Anthropic, a major player in AI, is aiming to raise up to $5 billion in 2024—nearly tripling its valuation to about $170 billion since March last year.
Iconiq Capital is leading the round, with big names like Qatar Investment Authority and Singapore's GIC possibly joining in.
Funding round is 5 times oversubscribed
This funding round is already five times oversubscribed.
To keep things simple and avoid extra fees, Anthropic has asked investors—including long-time backer Menlo Ventures—to invest directly instead of through complicated financial vehicles.
The company wants top-tier venture capitalists on board for lasting partnerships.
Investor interest surges amid AI race
Anthropic's main focus is developing safer AI models.
CEO Dario Amodei has said he's uneasy about taking money from authoritarian-backed funds but acknowledges in a leaked memo that it is difficult to avoid such funds given the capital requirements of AI development.
The rush of investor interest shows just how hot the race is to compete with giants like OpenAI right now.