Anthropic closes in on $20B round

Anthropic is in the final stages of raising $20 billion in new capital at a valuation of $350 billion, Bloombergreports, with investor demand leading the company to raise twice the funding it set out to obtain. The company raised $13 billion in equity fundingjust five months ago, but intense competition between frontier labs and the ongoing cost of compute has made it eager to raise as quickly as possible.

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