After investing in OpenAI and xAI, Sequoia set to back another rival, Anthropic

Sequoia Capital is joining the group of investors funding artificial intelligence (AI) startup Anthropic, valuing the company at $350 billion, according to a report in the Financial Times.

Sequoia’s portfolio already includes OpenAI and xAI. All three companies are direct rivals.

Anthropic’s funding round is being led by Singapore’s sovereign wealth fund GIC and US investor Coatue. Each fund will contribute $1.5 billion to Anthropic’s raise, which is targeting $25 billion or more.