Anthropic explains its $18.4B pre-funding round target as another fundraising push aims to generate $750M.On Wednesday, Anthropic, Claude’s AI developer, verified talks to generate $750M in new investments guided by Menlo Ventures.
Following the funding round’s completion, the San Francisco-founded firm’s valuation will be approximately $18B.
Anthropic Set to Launch a Fresh Funding Round
A technology industry-focused business publication was the first to report the raise. At the same time, a source conversant with the investment told a media outlet that the $750M funding target is true.
However, it made it clear that Anthropic’s pre-round valuation is $18.4B. Further, the source reported that the previously reported $20-30B target valuation was false and failed to reveal other participants of the raise.
The Anthropic news is a representation of the most recent primary investment interest in the OpenAI competitor, which unveiled its Claude 2 artificial intelligence chatbot in July following an earlier unveiling in March. In September, Amazin sunk $4B in Anthropic.
Afterwards, Google invested $2B, a significant increase in its contribution following an initial $400M investment in February. In May, Menlo Ventures, a Menlo Park-founded venture capital firm, unveiled its first investment in Anthropic.
Anthropic Challenges OpenAI in AI Development
Menlo Ventures investors Derek Xiao, Andreas Vandris, and partner Matt Murphy wrote that the Anthropic team has played a significant role in nearly all generative AI innovations since its early days.
They also noted that Anthropic was established as a focused bet on safety research, meaning the team intended to make a race to the top on safety and develop explainable, effective, and manageable artificial intelligence systems.
The development of responsible artificial intelligence has been a significant topic this year after the unveiling of GPT-4 by OpenAI. In July, OpenAI, Microsoft, and Anthropic created the Frontier Model Forum to promote responsible and sage utilization of ‘frontier artificial intelligence models.’
Industry Leaders Seek to Increase Use Case of AI
Following a meeting with the Biden Administration, Anthropic, Microsoft, and OpenAI joined and vowed to work towards the safe development of artificial intelligence. Divya Siddarth, Collective Intelligence Project co-founder, said that artificial intelligence will have a transformative effect on the globe.
However, only a few persons will determine what that looks like. He also said they intended to develop processes to ensure that was no longer true. As Amazon and Google keep investing in Anthropic, Microsoft is still dedicated to its rewarding and lengthy collaboration with OpenAI, ChatGPT’s developer.
Following his abrupt removal last month, Sam Altman was reinstated as chief executive officer. As part of his reinstatement, Microsoft, whose investment in OpenAI is more than $10B, joined the firm’s board in a non-voting capacity.
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