Blackstone committed an additional $200 million to Anthropic this week, bringing its total investment in the AI company to approximately $1 billion. The deal values Anthropic at $350 billion, according to sources familiar with the transaction.
This is the asset manager's second major commitment in less than a year, following its participation in Anthropic's $13 billion Series F round that valued the company at $183 billion last September.
Anthropic's revenue growth has accelerated dramatically, increasing from approximately $1 billion at the beginning of 2025 to over $5 billion by August. The company now serves over 300,000 business customers, with Claude Code generating over $500 million in run-rate revenue and usage increasing more than ten times in three months.
The increased stake comes as Anthropic expands its physical footprint. Earlier this month, a Blackstone Real Estate joint venture secured Anthropic as a tenant for two San Francisco office buildings totaling 484,000 square feet, one of the largest office commitments in the city's history.
The investment coincides with Anthropic's recent launch of its Opus 4.6 flagship model last week, featuring improved reasoning, coding, and complex text-generation capabilities with greater reliability.
Market reactions to AI progress have been mixed. Traditional software stocks declined sharply beginning February 3, days before Opus 4.6's release, as investors grew concerned that generative AI could disrupt established software business models. The selloff erased approximately $285 billion from software and related stocks, according to Bloomberg.
Anthropic has already exceeded its initial $10 billion fundraising target for the current round, with other participants including Coatue Management, Singapore's GIC, Iconiq Capital, Nvidia, and Microsoft. OpenAI, Anthropic's primary competitor, has been in talks to raise as much as $100 billion in another record-breaking round.
Blackstone's real estate business manages $319 billion in investor capital and is the largest commercial real estate owner globally. The firm's expanded commitment reflects growing institutional interest in AI infrastructure across both financial and physical assets.
Representatives for both companies declined to comment on the investment, which has not officially closed according to Bloomberg's reporting, with sources requesting anonymity because the information is not public.
