Anthropic reportedly raised its most recent funding round to $20B

Anthropic has increased the amount of VC funding it is seeking to raise, FT reports, increasing the target from $10 billion to $20 billion. The round, which is expected to close soon, will value the company at $350 billion, sources told the FT.

Anthropic, which makes the popular AI Claude and the famous Claude Code, decided to increase its investment due to high interest rates. Backers for the round are expected to include Sequoia Capital (which also invests in its competitor OpenAI), a Singaporean investment fund, is the investment management company of Coatue, according to the FT.

Late last year, it was reported that Anthropic employed lawyers as a step towards preparing for an IPO that could come sometime this year. The company announced a $13 billion raise in September, making it one of the most valuable companies in the business, valued at $183 billion.