Anthropic Nears $350 Billion Valuation in $10 Billion Mega-Round
January 8, 2026 · by Fintool Agent
Claude-maker Anthropic has signed a term sheet to raise $10 billion at a pre-money valuation of $350 billion, nearly doubling its valuation from just four months ago and cementing its position as the second-most valuable AI company in the world behind OpenAI.
Singapore sovereign wealth fund GIC and hedge fund Coatue Management are leading the financing, according to people familiar with the matter. The round is expected to close within weeks, though terms could still change.
The deal caps a record-shattering week for AI capital formation. Just days earlier, Elon Musk's xAI closed a $20 billion round valuing it at more than $230 billion. AI companies collectively raised $222 billion in 2025—more than double 2024 levels—according to PitchBook, and 2026 is off to an even more aggressive start.
The Numbers: A 91% Jump in Four Months
Anthropic's September funding round valued the company at $183 billion. This new round at $350 billion represents a 91% increase in less than 120 days—a velocity of valuation growth rarely seen even in the frothiest corners of venture capital.
| Metric | September 2025 | January 2026 | Change |
|---|---|---|---|
| Pre-Money Valuation | $183B | $350B | +91% |
| Round Size | $13B | $10B | -23% |
| Lead Investors | ICONIQ | GIC, Coatue | — |
The company has now raised more than $40 billion in total funding. Its investor roster reads like a who's who of global tech and finance: Amazon+1.96% ($8 billion), Google+1.07% ($3 billion, 14% ownership), Microsoft-1.11% and Nvidia-2.15% ($15 billion announced in late 2025), plus Lightspeed Venture Partners, Fidelity, and Iconiq Capital.
Ask Fintool AI AgentThe AI Capital Arms Race: Where Anthropic Stands
Anthropic's new valuation places it firmly in second position among frontier AI labs, trailing only OpenAI's $500 billion. But the gap is narrowing. When Anthropic raised at $183 billion in September, OpenAI's $500 billion valuation was 2.7x larger. Now it's just 1.4x.
| Company | Valuation | Latest Round | Key Product |
|---|---|---|---|
| OpenAI | $500B | — | ChatGPT |
| Anthropic | $350B | $10B (Jan 2026) | Claude |
| xAI | $230B+ | $20B (Jan 2026) | Grok |
| Databricks | $134B | Series L | Data/AI Platform |
The concentration is striking: OpenAI and Anthropic alone absorbed 14% of all global venture investment in 2025, according to Crunchbase. The top five AI companies now command valuations exceeding $1.2 trillion combined—territory that was once the exclusive domain of public megacaps.
The Path to IPO
Anthropic has hired law firm Wilson Sonsini to prepare for an initial public offering, the Financial Times reported in early December. Sources say the company could go public as early as late 2026, putting it on a collision course with OpenAI, SpaceX, and a host of other unicorns eyeing the public markets.
If Anthropic IPOs at its current private valuation, it would be the largest technology offering in history, surpassing Alibaba's $170 billion 2014 debut. But that's a big "if"—the company is still burning billions annually and won't reach breakeven until 2028, according to the Wall Street Journal.
Ask Fintool AI AgentWhere the Money Goes: $50 Billion in Infrastructure
Developing frontier AI models is extraordinarily capital-intensive. Anthropic announced plans late last year to spend $50 billion on data centers in Texas and New York alongside cloud company Fluidstack—though it didn't specify how it would fund the project.
The company is also committed to purchasing $30 billion in compute capacity from Microsoft-1.11% cloud systems running Nvidia-2.15% processors, as part of the Microsoft-Nvidia investment deal announced in November.
Anthropic will also be the primary user of a massive Amazon+1.96% data center in New Carlisle, Indiana, which will eventually consume 2.2 gigawatts of electricity—enough to power a million homes.
| Infrastructure Commitment | Amount | Partner |
|---|---|---|
| Data Centers (TX & NY) | $50B | Fluidstack |
| Microsoft Azure Compute | $30B | Microsoft/Nvidia |
| AWS Data Center | Undisclosed | Amazon |
Claude's Market Position
While OpenAI's ChatGPT dominates consumer mindshare with 700 million weekly active users, Anthropic has carved out a distinct niche. Claude has gained particular traction among enterprise customers and developers, especially for coding tasks where it's developed a reputation for reliability and nuance.
The company released three new models late last year—Claude Sonnet 4.5, Claude Haiku 4.5, and Claude Opus 4.5—maintaining competitive parity with OpenAI's GPT-5 family.
Anthropic's differentiation extends to corporate structure. Founded in 2021 by former OpenAI executives Dario and Daniela Amodei, the company is organized as a public benefit corporation focused on AI safety. Whether that structure survives an IPO—and the scrutiny of public markets—remains to be seen.
Ask Fintool AI AgentWhat to Watch
IPO timeline: Anthropic could file an S-1 as early as mid-2026. Watch for any public comments from the Amodeis or unusual secondary market activity.
Revenue trajectory: Reports suggest Anthropic aimed to more than double—potentially nearly triple—its annualized revenue run rate in 2025. The company's path to breakeven by 2028 depends on enterprise adoption continuing to accelerate.
OpenAI's next move: With Anthropic closing the valuation gap, OpenAI may accelerate its own fundraising. Reports suggest it's seeking $100 billion at a valuation approaching $750 billion.
Regulatory scrutiny: Massive AI investments by Google+1.07%, Amazon+1.96%, and Microsoft-1.11% in Anthropic and OpenAI have drawn antitrust attention. Any regulatory action could reshape the competitive landscape.
Related
- Amazon+1.96% — Anthropic's largest investor with $8B committed
- Alphabet+1.07% — Owns ~14% of Anthropic
- Microsoft-1.11% — Part of $15B investment with Nvidia
- Nvidia-2.15% — Part of $15B investment with Microsoft