The artificial intelligence company Anthropic said on Thursday it raised $30bn in its latest funding round that values the Claude maker and OpenAI rival at $380bn, underscoring the breakneck pace of AI investments.

The round, led by the Singapore sovereign wealth fund GIC and hedge fund Coatue Management, is among the largest private fundraising deals on record and comes just five months after Anthropic closed its previous round at a $183bn valuation – meaning the company has more than doubled in value since September.

“Anthropic is the clear category leader in enterprise AI,” said Choo Yong Cheen, chief investment officer of private equity at GIC.

Anthropic said its annualized revenue had reached $14bn, having grown more than tenfold in each of the past three years. A significant driver of recent growth has been Claude Code, the company’s AI-powered coding tool that became generally available in May 2025.

Anthropic’s rival OpenAI, backed by Microsoft and SoftBank, has been assembling what is reportedly a far larger round of up to $100bn that would value the ChatGPT maker at roughly $830bn.

The staggering sums being raised reflect equally staggering burn rates, with the companies spending cash to cover their huge costs of computing and attracting researcher talent.

Anthropic has forecast reducing its cash burn to roughly a third of revenue in 2026 and just 9% by 2027, with a break-even target of 2028 – two years ahead of its rival, according to reports. Both companies are widely expected to pursue initial public offerings in the second half of 2026.

Founded in 2021 by siblings Dario and Daniela Amodei, both former executives at OpenAI, Anthropic has positioned itself as a safety-focused alternative in the AI race.

The funding round also comes shortly after Anthropic aired its first television commercials during Super Bowl LX, using the campaign to emphasize that its products remain ad-free. The ads took an apparent jab at OpenAI, which has begun to introduce advertising into the free version of ChatGPT.

Anthropic’s earlier backers include Amazon, which has invested $8bn and serves as a primary cloud partner, as well as Google, which invested $2bn in 2023.