Anthropic is pursuing mega-round that could value AI startup near $350 billion, according to people familiar with the talks. The company is in advanced discussions to raise roughly $10 billion, and the deal could close within weeks.

The new round would represent a sharp jump from Anthropic’s most recent valuation. In September 2025, the startup raised $13 billion at a post-money valuation of $183 billion. Earlier that year, a $3.5 billion round valued the company at $61.5 billion, underscoring the pace at which investor expectations have climbed.

Singapore’s sovereign wealth fund GIC and investment firm Coatue Management are expected to anchor the financing. While final terms remain under negotiation, the proposed size would place Anthropic among the world’s most valuable private technology companies.

Claude Demand Drives Fundraising Talks

The talks come as demand for Anthropic’s Claude AI models continues to surge. Enterprise-focused products, including Claude Code, have seen particularly strong adoption. Newer systems such as Claude Opus 4.5 have gained traction with large corporate clients.

That momentum has translated into rapid revenue growth. Anthropic’s annualized run rate reportedly climbed from about $1 billion earlier in 2025 to more than $5 billion by year-end, according to people familiar with the figures.

Strategic Backing and Market Context

The potential funding would stand apart from earlier strategic arrangements tied to compute infrastructure. Anthropic has signed multi-billion-dollar agreements with Microsoft and Nvidia focused on cloud access and hardware supply, rather than direct equity stakes.

At the suggested valuation, Anthropic would rank behind only OpenAI, which private investors have valued around $500 billion. Elon Musk’s xAI has also crossed a $230 billion valuation, highlighting fierce competition for capital across the AI sector.

IPO Speculation Builds

Founded in 2021 by former OpenAI executives Dario and Daniela Amodei, Anthropic is also exploring a potential public listing as early as late 2026, according to reports. At current valuation levels, such an offering would rank among the largest IPOs ever.

For now, the talks reflect the broader rush of capital into frontier AI. As Anthropic eyes a mega-round, the negotiations signal both strong investor confidence and growing unease over how quickly AI valuations are rising.