AI Research Startup Anthropic Plans to Raise $5 Billion to Take On OpenAI

Anthropic, the AI research startup founded by former OpenAI researchers, is aiming to raise up to $5 billion in the next two years to compete with rival OpenAI and enter more than a dozen major industries. According to a pitch deck for Anthropic’s Series C fundraising round, the firm aims to build a “frontier model” called Claude-Next that is ten times more capable than current AI models, which would require a billion dollars in spending over the next 18 months. The planned model could be used to automate large portions of the economy and help build virtual assistants capable of answering emails, generating art, and performing research. The company’s series B round saw it raise $580 million with assistance from Alameda Research Ventures and Google.