Sequoia Capital is preparing to invest in Anthropic for the first time, according to a Financial Times report cited by THE DECODER. The planned move would place the Silicon Valley investor inside one of the largest current AI funding stories: a round targeting $25 billion and a valuation of $350 billion.
That valuation would be double the $170 billion figure from just four months ago. For Anthropic, the round would deepen the financial backing behind Claude. For Sequoia, it would mark a visible shift under new leadership after the firm had previously stayed away from investing in the company.
A $25 billion round reshapes the stakes
The funding round is led by Singapore's sovereign wealth fund GIC and US investor Coatue, with each contributing $1.5 billion. Anthropic is targeting a total raise of $25 billion, while Microsoft and Nvidia have committed to investing up to $15 billion combined.
Additional VC firms and investors are expected to contribute $10 billion or more. Sequoia Capital is preparing to join that group, which would make this the firm’s first investment in Anthropic.
The headline number is the proposed $350 billion valuation. In the source article, that figure is described as double the $170 billion valuation from just four months ago. Even without adding outside context, the scale of that change is central to understanding why this round matters.
At this size, the Anthropic raise is no longer just a standard startup financing event. The source notes that, according to a person familiar with Sequoia, the round has grown so large that it has shifted from a traditional VC investment to something closer to an equity investment.
Sequoia changes course under new leadership
The planned Anthropic investment follows a leadership shake-up at Sequoia. Former chief Roelof Botha had avoided Anthropic investments and warned against concentrating venture capital in a handful of highly valued startups.
Roelof Botha was ousted in November. Pat Grady and Alfred Lin took over, and the Anthropic move now signals a break from the earlier approach.
That change is important because Sequoia has already invested in OpenAI and Elon Musk's xAI. Venture capital firms typically avoid backing competing startups, but the source article says the scale of the AI industry has changed that calculus.
In practical terms, Sequoia’s position appears to reflect a broader shift in how major investors are treating leading AI companies. The old concern was clear: putting capital into rival companies can create strategic tension. The new reality, based on the source, is that the rounds are so large and the companies so valuable that investors may treat them differently from ordinary venture bets.
Why Anthropic is attracting this level of capital
Anthropic recently reported revenue of around $10 billion. That number helps explain why investors are considering a funding round of this scale, though the source does not provide details on how that revenue is composed.
The company is also preparing for an IPO that could happen later this year. Anthropic has hired law firm Wilson Sonsini for preparatory work and has held initial talks with banks about a public listing.
Those steps do not mean an IPO is guaranteed. But they show that Anthropic is not only raising private capital; it is also preparing for the possibility of becoming a public company.
The source article also says OpenAI and SpaceX are laying the groundwork for IPOs that could rank among the largest ever. That detail places Anthropic within a broader group of highly valued companies preparing for possible public listings.
What the deal says about AI investing
The planned Sequoia investment highlights several shifts in AI funding, all visible from the facts in the source article:
- Round sizes are expanding. Anthropic is targeting $25 billion, with Microsoft and Nvidia committed to investing up to $15 billion combined.
- Valuations are moving quickly. The proposed $350 billion valuation would be double the $170 billion figure from just four months ago.
- Investor boundaries are changing. Sequoia has already backed OpenAI and Elon Musk's xAI, yet is now preparing its first Anthropic investment.
- IPO preparation is becoming part of the story. Anthropic has hired Wilson Sonsini and held initial talks with banks about a public listing.
None of these points alone explains the full AI investment market. Together, they show why this round is being treated as more than another venture capital deal. The capital involved, the valuation, and the presence of major strategic investors make the Anthropic raise a test of how far AI financing has moved from familiar startup patterns.
For Sequoia Capital, the move is especially notable because it follows a change in leadership and a change in strategy. For Anthropic, it would add another major investor to a round already led by GIC and Coatue. For the wider AI sector, it reinforces the idea that top AI companies are operating in a funding environment where traditional venture rules are being reconsidered.
The near-term question
The next issue is whether Anthropic completes the raise on the terms described in the source and how its IPO preparation develops. The company is preparing for an IPO that could happen later this year, but the source frames that as preparation, not a completed plan.
What is already clear is that Sequoia’s planned first investment in Anthropic would be a significant marker. It would connect one of Silicon Valley’s best-known investors to the Claude maker at a moment when the company is targeting $25 billion, reporting revenue of around $10 billion, and preparing for a possible public listing.