Anthropic, an AI company rivaling OpenAI, announced a $30 billion funding round on Thursday. This lifts its valuation to $380 billion, more than double since September's $183 billion. The funding round is led by Singapore's sovereign wealth fund GIC and hedge fund Coatue Management. This is one of the biggest private fundraises ever in tech. Choo Yong Cheen, chief investment officer at GIC, said, "Anthropic is the clear category leader in enterprise AI." The company’s annualized revenue has jumped to $14 billion, growing more than ten times each year for the past three years. A key growth driver is Claude Code, an AI coding tool released in May 2025. OpenAI, Anthropic’s major rival backed by Microsoft and SoftBank, is reportedly raising up to $100 billion, valuing it at about $830 billion. Both companies spend huge amounts on computing and researchers. Anthropic expects to cut its cash burn to about one-third of revenue by 2026 and just 9% by 2027. It aims to break even by 2028, ahead of OpenAI’s plan. Both may go public in the latter half of 2026. Founded in 2021 by former OpenAI executives Dario and Daniela Amodei, Anthropic focuses on AI safety. It recently ran its first Super Bowl ads highlighting its ad-free products, with a subtle jab at OpenAI’s new ads in ChatGPT. Earlier investors include Amazon, which invested $8 billion and helps with cloud services, and Google, which put in $2 billion in 2023.