OpenAI competitor Anthropic seeks $15 billion valuation in new funding round

AI startup Anthropic is in talks to raise $750 million in a funding round led by Menlo Ventures, valuing the company at $15 billion, excluding the investment. The final valuation could exceed $18 billion. Anthropic, a rival to OpenAI and creator of the Claude chatbot, has secured commitments from major cloud providers, including Amazon and Google. The startup plans to spend billions on renting servers from these providers to train and power its large language model. Menlo Ventures is expected to invest between $400 million and $500 million in the round. Other investors in Anthropic include Spark Capital, Salesforce, and Sound Ventures.

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