Anthropic is preparing to secure an additional $10 billion in funding, which would value the company at $350 billion. This development follows a $13 billion Series F round completed just three months ago, when the AI firm was valued at $183 billion, meaning the new round would nearly double its worth. Earlier in March, Anthropic had already raised $3.5 billion at a valuation of $61.5 billion.

Leading this latest investment are Coatue Management and GIC, Singapore’s sovereign wealth fund. The financing is anticipated to be finalized in the coming weeks, though the total amount could still be adjusted. Importantly, this round is distinct from a separate $15 billion commitment recently made by Nvidia and Microsoft, which involves a reciprocal arrangement where Anthropic will purchase $30 billion in compute capacity from Microsoft Azure, powered by Nvidia’s chips.

The new capital arrives as Anthropic gains traction among developers with Claude Code, its coding automation tool driven by the Claude Opus 4.5 model. Simultaneously, the company is positioning itself for a potential initial public offering later this year, a move that aligns with plans from its primary competitor, OpenAI. OpenAI is also reportedly in discussions to raise up to $100 billion at a valuation of $750 billion.