Anthropic raises $15B at $350B valuation in deal with Microsoft and Nvidia
Nov 18, 2025
Key Points
- Anthropic raises $15 billion at $350 billion valuation from Microsoft ($5B) and Nvidia ($10B), committing to spend $30 billion on Microsoft cloud compute.
- Anthropic's valuation now exceeds Coca-Cola's market cap, placing it among a rarified group of companies globally valued above $300 billion.
- The deal resolves past tensions between Nvidia CEO Jensen Huang and Anthropic CEO Dario Amodei, signaling strategic alignment on AI infrastructure.
Summary
Anthropic raised $15 billion at a $350 billion valuation in a deal pairing $5 billion from Microsoft and $10 billion from Nvidia. Anthropic committed to spend $30 billion on Microsoft cloud compute over time.
The announcement arrived on the same day Google launched Gemini 3, which likely helped Anthropic capture attention for one of the largest software fundraises on record, likely in the top 10 all-time.
Anthhropic's $350 billion valuation now exceeds Coca-Cola's market cap of roughly $300 billion. Few publicly traded companies globally fall in the $300 billion to $400 billion range.
The deal structure is smaller than OpenAI's Microsoft arrangement, which involved a $250 billion compute commitment alongside a $100 billion investment and a separate $50 billion investment. That 10x scale difference may explain why the Anthropic deal drew fewer regulatory questions despite its size.
The investment also resolves past tension between Nvidia CEO Jensen Huang and Anthropic CEO Dario Amodei, who had disagreed publicly before. The deal signals alignment between the two companies on AI infrastructure and compute strategy.