AI startup Anthropic PBC is reportedly engaged in advanced negotiations to secure $2 billion in funding, which could push its valuation to $60 billion, as stated by The Wall Street Journal on Tuesday.

The venture firm Lightspeed Venture Partners is leading the round, and the $60 billion valuation includes the new capital. If the deal goes through, Anthropic would become the fifth-highest valued US startup, following SpaceX, OpenAI, Stripe, and Databricks.

This follows a $18 billion valuation last year during a round led by Menlo Ventures, and comes amidst a surge in AI-focused investments.