Bond.az reports that Zoom Video Communications (NASDAQ:ZM) has secured a financial return exceeding $1 billion from its early backing of AI startup Anthropic.
Zoom's initial investment of approximately $51 million, made in May 2023 through Zoom Ventures, has reached nearly $1.3 billion.
The strategic stake was aimed at integrating Anthropic's Claude large language models into Zoom's AI architecture. Anthropic is preparing to finalize a new funding round as early as next week.
Anthropic seeks to raise up to $30 billion at a $900 billion valuation, with Sequoia Capital, Dragoneer, Altimeter, and Greenoaks each contributing $2 billion.
Zoom also reported strong Q1 results: revenue of $1.24 billion (up 5.5% YoY) and adjusted EPS of $1.55, beating estimates.
The company raised its full-year guidance: adjusted EPS of $5.96-$6.00 on revenue of $5.08-$5.09 billion.
Zoom authorized a new $1 billion share buyback. Wall Street raised price targets: Morgan Stanley to $105, Rosenblatt to $130, Benchmark to $125.
