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Anthropic Nears $2 Billion Funding Deal, Valued at $60 Billion

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AI startup Anthropic is in advanced talks to secure $2 billion in additional funding, which would value the company at $60 billion, according to sources familiar with the matter. The new round of funding is being led by venture capital firm Lightspeed Venture Partners. This follows a previous $4 billion investment from Amazon, which included convertible notes that will be converted into equity during this funding round.

The latest funding will bring Anthropic’s total funding to $6 billion, marking a significant increase in the company’s valuation from $18 billion in a 2023 fundraise led by Menlo Ventures. Anthropic, a major competitor to OpenAI in the generative AI space, has seen substantial growth, with its annualized revenue reaching approximately $875 million. The company sells access to its AI models both directly and through third-party cloud services, including Amazon Web Services.

Founded by former OpenAI executives Dario and Daniela Amodei, Anthropic’s rapid growth is part of a broader AI arms race sparked by the popularity of OpenAI’s ChatGPT, launched in November 2022. In addition to Amazon, Anthropic also received a $2 billion investment from Alphabet in 2023.

The recent surge in AI-related investments is part of a broader trend, with AI startups accounting for nearly half of the venture capital raised in the U.S. last year, according to PitchBook data.

Wiz Appoints Fazal Merchant as President and CFO to Prepare for IPO

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Israeli cloud security firm Wiz has appointed veteran executive Fazal Merchant as its president and chief financial officer (CFO) to continue its rapid growth and pave the way for a U.S. initial public offering (IPO) in the next year.

Merchant’s appointment comes after the company turned down a reported $23 billion acquisition offer from Google’s parent company, Alphabet, in July. Wiz’s CEO Assaf Rappaport emphasized that the company’s focus would now be on an IPO and reaching an annual recurring revenue of $1 billion.

Currently, Wiz generates approximately $500 million in annual revenue, having grown significantly since its 2020 founding. The company serves half of the Fortune 100 companies and has raised $1.9 billion in private financing, with a valuation of $12 billion after raising $1 billion in May 2023.

Merchant, who previously served as co-CEO of U.S. cybersecurity firm Tanium and CFO of DreamWorks Animation, highlighted Wiz’s healthy liquidity and its strategy to prepare for the IPO. He noted that IPO readiness could take 12 months, or potentially longer, depending on market conditions.

Merchant also emphasized Wiz’s goal of becoming the leader in cloud security as the global shift to cloud computing continues, with only 15% of the world’s infrastructure in the cloud. As the company expands in Europe and Asia, it sees significant growth potential in the cybersecurity sector.

 

Russian Court Fines Google $78 Million for Ignoring Previous Penalties

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A Moscow court fined Alphabet’s Google 8 billion roubles ($77.9 million) on Tuesday for failing to comply with earlier penalty orders, as announced by the Moscow courts press service via Telegram. This fine is significantly higher than the typical fines of around 4 million roubles that are usually issued for such violations.

For years, Russia has pressured foreign technology companies to remove content it considers illegal, imposing incremental penalties for non-compliance. The Chertanovo District Court in Moscow stated that the latest fine was related to Google’s failure to comply with an administrative punishment, though it did not disclose specifics about the violation.

YouTube, owned by Google, has been a frequent target of criticism from Russian authorities. Once drawing approximately 50 million daily users in Russia, YouTube’s audience has reportedly dropped to around 12 million. Russian officials have accused Google of failing to upgrade equipment, allegedly leading to disruptions in YouTube’s download speeds. Critics argue that these disruptions are intentional efforts to hinder access to content critical of President Vladimir Putin’s government—an allegation Russia denies.

In December, President Putin accused Google of acting as a tool of the U.S. government for political gain. Google has not yet commented on the latest ruling.