Anthropic is reportedly planning to raise $10 billion at a valuation of around $350bn.

The fundraising, first reported by The Wall Street Journal, would almost double the French company’s valuation from just four months ago.

Founded in 2021 by former OpenAI employees, the business develops the Claude chatbot and positions itself as a safety-first AI company with around 300,000 business customers.

The round is expected to be led by GIC and Coatue, as speculation continues around a potential IPO later this year.