In a new round of financing, artificial intelligence startup Anthropic PBC has raised at least $10 billion from investors, including Coatue Management, Singapore’s sovereign wealth fund GIC, and Iconiq Capital. This reflects investors’ continued enthusiasm for the sector amid a surge in industry revenue. According to informed sources, the company’s revenue run rate has more than doubled since last summer and is expected to surpass $90 billion by the end of 2025. Previously, its full-year revenue forecast for July last year was approximately $40 billion.
Multiple sources indicate that this funding round has seen strong demand, with investor commitments already exceeding the company’s initial $100 billion fundraising target. Including the previously pledged $150 billion investment from Microsoft (MSFT) and NVIDIA (NVDA), the total funding for this round is likely to easily surpass $200 billion.
According to the preliminary investor list, lead investors Coatue Management and GIC are each expected to contribute around $15 billion. Iconiq Capital is also poised to become a major investor, planning to invest $10 billion or more. The firm had previously led Anthropic’s last funding round in September last year, when the company’s valuation was only about half of its potential new valuation. Additionally, institutions such as Lightspeed Venture Partners, Menlo Ventures, and Sequoia Capital are also expected to participate in this round.
Anthropic’s AI tool, Claude, has become a significant choice for businesses and developers in executing tasks such as coding. The company stated that the new version, Claude Sonnet 4.5, released in September last year, performs better in following instructions and can support continuous autonomous coding for up to 30 hours. The service can also utilize users’ local computers to perform operations—an improvement over a feature introduced a year ago—helping advance AI toward greater autonomy.
Microsoft and NVIDIA had previously announced plans for large-scale investments in Anthropic. The strategic capital injections from these two tech giants further highlight the increasingly close collaboration between AI developers and cloud computing or chip suppliers. Such partnerships have also raised concerns among some potential investors. Industry observers and rating agencies are closely monitoring the rise of the so-called “AI transaction loop,” where suppliers also act as company investors. Beyond receiving investments, Anthropic itself is a customer of both Microsoft and NVIDIA.
Mergers and acquisitions activity in the AI industry indicate that the costs of developing and supporting related tools are rising rapidly. Statistics show that spending on data centers alone could exceed $3 trillion over the next five years. To this end, Anthropic plans to invest heavily in AI infrastructure and has committed to investing $500 billion in the United States for building data centers.
