Anthropic's Upcoming $10 Billion Fundraising Marks Major Milestone in AI Industry Expansion According to industry reports, Anthropic PBC - the developer of the Claude generative AI service - is set to finalize a $10 billion funding round as the AI investment wave continues its upward trajectory. Bloomberg sources revealed the company had initially targeted $5 billion at a $170 billion valuation, but significantly increased the amount due to robust investor demand. Iconiq Capital is leading this round with expected participation from TPG Inc., Lightspeed Venture Partners LP, Spark Capital Management and Menlo Ventures LP. Discussions are also ongoing with Qatari Sovereign Wealth Fund and Singapore's GIC Pvt. Ltd. The new capital injection will position Anthropic to compete more effectively with major AI players like OpenAI and xAI Inc., both of which secured multi-billion-dollar funding recently. OpenAI raised $40 billion at a $300 billion valuation in March followed by an additional $8.3 billion in early August, while xAI secured $10 billion in July. Anthropic previously raised $3.5 billion in March 2024 at a $61.5 billion valuation. Analysts expect the new round to achieve a valuation increase from the previous $170 billion target. Founded in 2021 by former OpenAI researchers, Anthropic has become a key player in the generative AI space with its Claude chatbot challenging OpenAI's ChatGPT and Google Gemini. The Claude models have gained particular traction among developers for code generation, debugging, and workflow automation. These AI tools are widely integrated into engineering environments and productivity platforms. With total funding reaching $14.3 billion across 12 rounds, the upcoming investment could accelerate model development, infrastructure expansion and global market penetration to address growing demand.