techcrunch.com
Venture capital firm Sequoia Capital is reportedly investing in AI startup Anthropic, joining a massive funding round aiming for a $25 billion raise at a $350 billion valuation.
This move is controversial because Sequoia already holds significant stakes in Anthropic’s rivals, OpenAI and Elon Musk’s xAI. Venture firms typically avoid such direct competition; notably, Sequoia once withdrew a $21 million investment in Finix to avoid a conflict of interest with portfolio company Stripe.
While investing in xAI was largely viewed as a play to strengthen ties with Elon Musk, backing Anthropic represents a sharper break from traditional VC strategies. This shift follows recent leadership changes at Sequoia, including the promotion of Pat Grady, who led the precedent-setting Finix divestment.
Read More
