Anthropic, a US-based AI company, has signed a term sheet for a US$10 billion funding round at a US$350 billion valuation, according to the Wall Street Journal.

The financing is being led by Coatue and Singapore’s sovereign wealth fund, GIC, according to a source familiar with the matter, who requested anonymity due to the confidential nature of the discussions.

Former OpenAI research executives, including CEO Dario Amodei, founded Anthropic in 2021, and the company develops a family of large language models called Claude.

Amazon has invested billions of dollars in Anthropic, while in November, Microsoft and Nvidia announced plans to invest up to US$5 billion and US$10 billion, respectively.

Anthropic is racing to stay ahead of competitors such as Google and OpenAI, the latter of which has seen its valuation rise to US$500 billion.

Late last year, Anthropic launched three new models: Claude Sonnet 4.5, Claude Haiku 4.5, and Claude Opus 4.5.

Featured image credit: Edited by Fintech News Switzerland, based on image by freepik