Sequoia Capital is preparing to make a significant investment in Anthropic, as the artificial intelligence group seeks to raise at least $25bn at a valuation of $350bn, according to the Financial Times.

The funding round would rank among the largest private capital raises on record and further underline investor appetite for AI infrastructure and model development. Singapore sovereign wealth fund GIC and Coatue Management are expected to commit $1.5bn each, the report said.

Anthropic, founded in 2021 by former OpenAI employees, develops the Claude chatbot and competes with rivals including OpenAI and Google-backed DeepMind. The company is pursuing capital to fund rapid expansion and escalating computing costs tied to advanced AI models.

The Financial Times reported that discussions are ongoing and final commitments could change, with the round expected to close in the coming weeks. Sequoia, GIC, Coatue, and Anthropic declined to comment.

The Wall Street Journal and Bloomberg News previously reported that Anthropic was raising $10bn at the same $350bn valuation, with GIC and Coatue set to lead the round. Microsoft and Nvidia have separately said they will invest up to a combined $15bn in the company.

The deal highlights how growth equity and technology-focused investors are concentrating capital into a small number of AI platforms viewed as potential long-term infrastructure winners.

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