xAI, OpenAI, and Anthropic have raised more than $20 billion in total in the past three months, with a total valuation of more than $250 billion

Odaily Planet Daily News: A person familiar with the matter revealed that Lightspeed Venture Partners previously led a $2 billion financing for AI company Anthropic at a valuation of $60 billion, three times the valuation of the startup a year ago. By early January, the deal was actually completed. Lightspeed manages $25 billion in funds and is one of the few venture capital institutions willing and able to support the hottest and most expensive companies in the technology industry. In addition to Anthropic, Lightspeed recently participated in a large round of financing for AI company Databricks, with a valuation of $62 billion, and invested in Musk's xAI, with a valuation of $50 billion. Despite the risks, including the fact that it has not yet proven that it can make a profit from these investments, large AI transactions have become mainstream among top venture capital. "It's a high-risk poker game," said Tim Guleri, managing partner of Sierra Ventures and AI investor. In the past three months alone, xAI, OpenAI and Anthropic have raised more than $20 billion, bringing the three companies’ combined valuation to more than $250 billion. U.S. AI startups have raised a record $97 billion in total in 2024, according to PitchBook. Investors say pressure is growing on venture capitalists, especially those who missed out on backing top AI companies at lower prices, to align with leading companies before it’s too late. Like much of the venture industry, Lightspeed has turned its attention to AI startups, backing early-stage companies such as music company Suno Inc. and video startup Pika in addition to larger companies. In December, the firm parted ways with two leading consumer investors and said it was adjusting its consumer investment strategy to better align with the “AI era.” In total, Lightspeed has invested $2.2 billion in AI deals, not including its latest investment in Anthropic, according to another person familiar with the matter. In addition, the company is about to close a financing round that is expected to raise $7 billion. A Lightspeed spokesperson declined to comment on the financing. (Bloomberg)