Anthropic to Raise $750 Million in Menlo Ventures-Led Deal

Anthropic is in talks to raise $750 million in a venture round led by Menlo Ventures that values the two-year-old artificial intelligence startup at $15 billion not including the investment, more than three times its valuation this spring, according to two people with direct knowledge of the matter. The round hasn't finalized. The final price could top $18 billion, according to a third person.

The investment adds to commitments secured from major cloud providers that also supply computing resources to the startup, one of the main rivals to OpenAI. The deal for the maker of the Claude chatbot shows VC investors’ continued strong appetite for the largest AI deals, as long as the startups are generating revenue.