Anthropic Eyes $40 Billion Valuation as It Races to Rival OpenAI
Anthropic, OpenAI’s major competitor, is reportedly in talks with investors to raise capital in a deal that would value the company between $30 billion and $40 billion, roughly doubling its valuation from a funding round concluded earlier this year, according to a recent report. This news comes as OpenAI is also reportedly raising between $5 billion and $7 billion, pushing its valuation to approximately $150 billion, almost double the value from a share sale that closed in the first quarter. Anthropic is set to present to investors at Morgan Stanley’s private tech conference in Los Angeles next month, added the report. Over the past year, Anthropic has raised at least $7 billion from investors, including Amazon and Google, which both provide cloud services to the startup and resell Claude to app developers, as well as from venture capital firm Menlo Ventures. In June, Anthropic released its most advanced model, Claude 3.5 Sonnet. The model outperforms its predecessor Claude 3 Opus in standard vision benchmarks. It excels in accurately transcribing text from imperfect images, a feature especially useful in industries like retail, logistics, and financial services, where AI can provide better insights from visuals than text alone. Word is around the corner that Anthropic is planning to release its next model, Claude Opus 3.5, soon. Anthropic recently made Claude Artifacts available to all users on iOS and Android, allowing anyone to easily create apps without writing a single line of code. On Claude website, these Artifacts appear in a dedicated window beside the conversation. This feature offers a flexible workspace where users can view, edit, and build on Claude’s creations in real-time, seamlessly integrating AI-generated content into their workflows. Notably, Anthropic and OpenAI have both made similar executive hires in recent months. Anthropic appointed Mike Krieger, Instagram’s co-founder, as its chief product officer, and Krishna Rao, Airbnb’s former global head of corporate and business development, as its first chief financial officer.
Anthropic is planning to release its next model, Claude Opus 3.5, soon.
Anthropic is planning to release its next model, Claude Opus 3.5, soon.
["Anthropic funding"]
["Anthropic", "Go", "API", "OpenAI", "AI", "ML", "Claude 3.5", "GAN", "Anthropic funding", "R", "startup"]
["AI", "ML", "OpenAI", "Claude 3.5", "Anthropic", "R", "Go", "API", "GAN", "startup"]
Shalini is a senior tech journalist, exploring the latest advancements in AI. When she's not reporting on the latest innovations, you can find her immersed in her next literary adventure.