Anthropic signed a term sheet for a $10 billion Series D funding round at a $350 billion valuation, led by Coatue and Singapore sovereign wealth fund GIC. The round follows a series of frontier model releases (Claude Sonnet 4.5, Haiku 4.5, Opus 4.5) in late 2025, with backing from Amazon, Microsoft (up to $5B), and Nvidia (up to $10B). OpenAI's valuation has reached $500 billion in parallel. Frontier AI venture funding continues to accelerate and consolidate around two large domestic competitors, with significant sovereign and corporate capital allocation to the sector now normalized at the $10B+ single-round scale. Financial institutions should monitor whether this valuation premium for Anthropic relative to OpenAI persists, and whether such capital inflows translate into revenue and margin claims that justify the valuations in audited financial reporting.
246 other tracked developments touching the same claims.