TechCrunch Startup News Anthropic closes in on $20B round; plus, Harvey reportedly raising at $11B valuation just months after it hit $8B
Feb 10, 2026
A deep dive into massive AI fundraising moves and sky-high valuations. Discussion of who is backing frontier labs and which product wins are driving investor demand. Coverage of fast follow-on raises and rapid ARR growth reshaping startup valuations. Notes on intense competition among top AI companies and what that means for future capital rounds.
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Anthropic Racing To Scale Up
- Anthropic is reportedly raising about $20 billion at a $350 billion valuation amid intense frontier lab competition and high compute costs.
- NVIDIA and Microsoft are expected to provide the bulk of the strategic funding alongside multiple VC participants.
Strategic Partners Driving The Round
- Strategic partners NVIDIA and Microsoft are slated to supply most of Anthropic's new capital while other VCs join the round.
- The raise reflects investor eagerness to back frontier AI despite rising compute expenses.
Product Releases Are Market Moving
- Anthropic's product wins include coding agents that boost developer productivity and new models for legal and business research.
- Those releases have already unsettled public data firms' share prices due to disruption fears.