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Amazon.com Inc. and Google LLC-backed artificial intelligence startup Anthropic PBC is reportedly in talks to raise $750 million in new funding on a valuation of $15 billion, according to a report from The Information and later a report from Bloomberg.
The report claims that Menlo Ventures Management L.P. will lead the round. Although a valuation of $15 billion is being discussed, the final valuation on the deal could go above $18 billion. Neither Anthropic nor Menlo Ventures has yet commented on the report.
Founded in 2020 by former OpenAI LP researchers, Anthropic builds generative artificial intelligence software. Its most recent model, Claude 2, is designed to compete with OpenAI’s GPT-4 and can generate marketing copy, solve mathematical problems and turn natural language prompts into software code.
Among competitors in the AI market, Claude 2 differs in its ability to process prompts containing 100,000 tokens, a unit in AI corresponding to characters and numbers. The higher the number, the more data that can be processed. By comparison, GPT-4 can process only 8,000 tokens, giving Claude 2 a higher capacity to summarize long documents that other large language models cannot process.
The new round, should it take place, probably won’t be Anthropic’s last. Starting with a funding round of $124 million Series A in May 2021, which included individual investors such as former Google Chief Executive Officer Eric Schmidt and Facebook co-founder Dustin Moskovitz, the company has raised multiple rounds since.
The previous rounds include:
Anthropic was last in the news in November, not for raising new funding for a novel change, but for the release of Claude 2.1. The new chatbot includes advances in core features with significantly improved safety, a much larger context window and a new third-party tool use feature.
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