Sovereign wealth fund GIC leads Anthropic's $30 billion Series G round

Singapore's GIC led Anthropic's $30 billion Series G, with Coatue participating, per GIC's February 13, 2026 announcement. A sovereign wealth fund — not a venture capital firm — taking the lead role signals that frontier AI capital needs now exceed what conventional VC balance sheets can underwrite alone. GIC's 20-year real return through March 2025 was 3.8% above inflation.