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OpenAI Rival Anthropic Is Reportedly in Talks to Raise $750 Million in Funding

Dec 22, 2023 - techtimes.com
OpenAI competitor Anthropic is reportedly in talks to raise a $750 million funding round, led by Menlo Ventures, which could increase the company's valuation to $18.4 billion. This marks a significant increase from its earlier valuation of $4.1 billion. Anthropic, known for developing AI chatbot Claude 2, has received support from major tech companies like Google, Salesforce, and Zoom, and has previously raised $750 million in two funding rounds.

Claude 2, a rival to OpenAI's ChatGPT, is capable of summarizing extensive texts of up to 75,000 words, compared to ChatGPT's 3,000 words. The company was founded by former OpenAI executives and has a workforce of around 150 individuals. The recent funding round underscores Anthropic's growing presence in the competitive AI field, backed by significant financial support for its innovative pursuits.

Key takeaways:

  • Anthropic, an AI company, is reportedly in talks to raise a $750 million funding round, potentially increasing its valuation to $18.4 billion, a significant increase from its previous valuation of $4.1 billion.
  • The company has previously raised $750 million in two funding rounds, with Google acquiring a 10% stake in one of these rounds. Google also committed to a strategic investment of up to $2 billion in Anthropic last October.
  • Anthropic is known for developing Claude 2, a chatbot that competes with OpenAI's ChatGPT. Claude 2 has the ability to summarize extensive texts, handling up to approximately 75,000 words, compared to ChatGPT's 3,000 words.
  • The company's founding team includes former OpenAI executives, and it has a specialized team dedicated to the development of its AI model, indicating its strong position in the competitive AI industry.
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