In an official report, the team behind Claude AI Anthropic revealed plans to launch a $750 million funding round led by Menlo Ventures. The artificial intelligence development company anticipates that the multi-million investment would propel the firm’s value to reach $18 billion.
News concerning upcoming fundraising was brought to light by The Information media outlet after being hinted at by a source privy to the matter.
Anthropic Raises $750M in a Funding Round
According to the report, the Anthropic firm’s value amounted to around $18.4 billion before the expected funding round. The source familiar with the situation silenced the swirling rumors that Anthropic valuation ranged between $20 to $30 million.
Upon contacting the source to obtain more information concerning the expected funding round, the source declined to provide further details on the firms and investors willing to support Anthropic in the upcoming fundraising.
In an earlier report, Menlo Ventures revealed plans to support the Anthropic team in realizing its goals. A statement from Menlo’s top-level management revealed that Anthropic has remained at the forefront in developing distinctive generative AI tools.
The executive confessed that the Anthropic was based on a strong principle that supports safety research for AI infrastructures. The Menlo officials outlined that the Anthropic seeks to attain safety research and build reliable AI tools.
With the exciting development in the AI sector, the Anthropic team has emerged as OpenAI’s top rival after it launched the Claude chatbot version 2.
Future of AI Technology
Interestingly, the launching of Claude aimed at overperforming OpenAI ChatGPT, which has gained popularity due to its ability to generate human-like responses. The attempt to gain a considerable market share in the AI field has challenged the Anthropic team to invest in expanding its generative AI tools.
A few months ago, the Anthropic team received $4 billion from Amazon and $2 billion from Google to support its ongoing AI projects. As Google and Amazon support Anthropic, Microsoft has invested in supporting the development of OpenAI projects.
Commenting on the multiple investments in AI, the co-founder of Collective Intelligence, Divya Siddarth, confessed that artificial intelligence technology will have a transformative impact on the world.
Risks Associated with AI Development
The executive argued that despite the ongoing AI craze, only a few players have the opportunity to decide on the AI project. In July, the Anthropic group teamed up with Google, Microsoft, and OpenAI to develop the Frontier AI models that support the responsible use of AI.
The launching of the Frontier AI model came weeks after the industrial heavyweights in the AI field held a closed-door meeting with the Biden Administration. The agenda of the discussion revolved around the responsible use of AI technologies.
Since then, the Anthropic team has been an active participant in AI-related projects and has supported the government in developing safety measures and policies on AI development. The active participation of Anthropic in AI-oriented projects enabled the San Francisco-based AI development company to enter into a strategic partnership with Collective Intelligence.
The partnership between the two aimed at democratizing AI development. Despite the intensive efforts to bring innovation to the AI sector, the development of responsible artificial intelligence tools has been in the limelight for the past few months.
The surge in AI activities attracted the attention of global regulators due to the risk associated with the development of artificial intelligence technologies.
