Sequoia to invest in Anthropic, breaking VC taboo on backing rivals: FT
TechCrunch • • business
Key Points:
- Sequoia Capital is reportedly joining a massive funding round for Anthropic, the AI startup behind Claude, alongside investors like Singapore’s GIC and U.S. firm Coatue, aiming to raise $25 billion at a $350 billion valuation.
- This move is notable because Sequoia already invests in OpenAI and Elon Musk’s xAI, breaking the traditional venture capital practice of avoiding backing direct competitors in the same sector.
- OpenAI CEO Sam Altman previously stated that investors with access to OpenAI’s confidential information would lose that access if they made active investments in competitors, highlighting industry-standard protections that Sequoia’s new investment seemingly challenges.
- Sequoia’s deep ties to Altman and Elon Musk help explain the firm’s
