Abu Dhabi’s MGX near a multihundred‑million dollar commitment to Anthropic’s $20bn+ raise

MGX, an investment vehicle tied to Abu Dhabi, is reported to be in advanced talks to commit several hundred million dollars to Anthropic PBC’s ongoing primary financing effort that market sources say is targeting more than $20 billion. The prospective MGX allocation would join a slate of large institutional, sovereign and crossover investors assembling capital for the round. Separately, market reports indicate Blackstone has increased its exposure to Anthropic with an additional roughly $200 million contribution — a move that market math suggests brings Blackstone’s total stake in the company nearer to $1 billion. Long‑time venture backers including Sequoia Capital are also named among participating investors. Anthropic has concurrently arranged a structured tender to offer limited employee liquidity at an elevated internal price, with some reporting an internal valuation in the vicinity of $350 billion. Company product momentum — particularly the rollout of Opus 4.6, which customers and benchmarks say improves long‑context handling, reasoning and code capabilities — has been cited as sharpening investor appetite for a large late‑stage round. If completed, the combined primary capital and any employee tender would materially extend Anthropic’s runway, fund compute and talent investments and strengthen its negotiating position with cloud, chip and distribution partners. But the size and composition of the investor syndicate — including sovereign vehicles, crossover funds and strategic suppliers — concentrates ownership and heightens scrutiny around deal covenants, information access, vendor neutrality and board influence. Market participants say customers, competitors and regulators will watch contractual terms closely for clauses that could grant privileged insights or preferential integrations. The tender itself creates practical tax and cap‑table consequences for employees and shifts liquidity dynamics for existing backers as fresh primary capital and secondary windows interact. For MGX and Abu Dhabi, an anchor allocation would deepen strategic exposure to a leading model developer and could open channels for commercial or technical cooperation; it would also concentrate sovereign exposure to firm‑specific technology and regulatory risk. Overall, the reported negotiations exemplify a late‑stage AI funding pattern where product progress and employee liquidity needs draw large sovereign and institutional anchors — accelerating commercialization but concentrating influence and inviting closer governance and market‑structure scrutiny.