Sequoia Backs Anthropic in Massive Funding Round Despite AI Portfolio Conflicts

• Sequoia Capital is reportedly joining a major funding round for Anthropic, the AI startup behind Claude, alongside GIC and Coatue.
• Anthropic aims to raise $25 billion or more at a $350 billion valuation, significantly higher than its previous $170 billion.
• The investment is notable as Sequoia already backs Anthropic's direct competitors, OpenAI and xAI, challenging traditional VC practices.
• OpenAI CEO Sam Altman previously warned investors against non-passive investments in competing AI companies.
• This move marks a shift for Sequoia, which previously exited Finix due to conflict with Stripe, and comes amid leadership changes at the firm.

Why It Matters: Sequoia's investment in Anthropic, despite existing stakes in OpenAI and xAI, signals a new approach to VC conflicts.