TLDR: Scottish Mortgage Investment Trust has made a significant investment in Anthropic, an artificial intelligence powerhouse, as the company’s valuation soared to an impressive $183 billion following a $13 billion Series F funding round. This move highlights strong investor confidence in Anthropic’s rapid growth and its position as a key competitor in the AI landscape, despite some concerns raised about the speed of its valuation increase.
In a significant development within the artificial intelligence sector, Scottish Mortgage Investment Trust has announced a substantial investment in Anthropic, a leading generative AI firm. This backing comes as Anthropic’s valuation has reached an astounding $183 billion, a figure that has tripled in 2025 alone, following a successful Series F funding round that secured $13 billion in capital. The investment by Scottish Mortgage, amounting to £91 million, underscores the growing confidence in Anthropic’s potential to shape the future of AI.
The Series F funding round was spearheaded by Iconiq Capital, with pivotal contributions from Fidelity and Lightspeed Venture Partners. Other prominent institutional investors participating in this round included Baillie Gifford, BlackRock, Blackstone, Ontario Teachers’ Pension Plan, Qatar Investment Authority, and T. Rowe Price, among others. This broad investor base reflects a strong belief in Anthropic’s innovative capabilities and its strategic importance in the highly competitive AI market.
Anthropic, founded by seven former employees of OpenAI, has demonstrated meteoric growth since the release of its flagship AI product, Claude, in March 2023. The company’s run-rate annualised revenue surged from approximately $1 billion at the start of 2025 to over $5 billion by August 2025, positioning it as one of the fastest-growing technology companies in history. Krishna Rao, Anthropic’s Chief Financial Officer, stated, ‘We are seeing exponential growth in demand across our entire customer base. This financing demonstrates investors’ extraordinary confidence in our financial performance and the strength of their collaboration with us to continue fueling our unprecedented growth.’
Despite the enthusiasm, the rapid escalation in valuation has prompted some caution. James Anderson, a former fund manager for Scottish Mortgage, expressed concerns earlier this month regarding the ‘scale of jump and the pace’ with which Anthropic and its rival OpenAI have increased in value, describing it as ‘disconcerting.’ However, Hamish Maxwell, an investment specialist for Scottish Mortgage, affirmed the trust’s preference for Anthropic, citing it as ‘one of the very few global teams capable of training the next-generation AI models.’ Maxwell highlighted Anthropic’s ‘technical strength,’ ‘growing commercial potential including coding,’ and ‘commitment to safety,’ referencing the company’s decision in 2022 to conduct further testing on Claude before its market release.
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- Anthropic Strengthens AI Safety with Updated Responsible Scaling Policy
- Anthropic’s Claude AI Expands Financial Capabilities with Excel Integration and New Data Connectors
Anthropic’s focus on safety, coupled with its technical expertise and breakthroughs in alignment and interpretability, has underpinned the strength and consistency of its models. The company now supports over 300,000 business customers, with the number of large accounts generating over $100,000 in run-rate revenue increasing nearly sevenfold in the past year. Its Claude Code product, fully released in May 2025, has generated more than $500 million in run-rate revenue in just three months, further solidifying Anthropic’s position as a key player challenging OpenAI’s dominance in AI chat interfaces and large language models.
