Sequoia Capital closed approximately $7 billion for a new expansion fund—its largest comparable raise ever and nearly double the $3.4 billion fund it raised in 2022—under new co-stewards Alfred Lin and Pat Grady (TechCrunch). The capital targets Sequoia's late-stage investing arm focused on the U.S. and Europe, with AI as the primary thesis (Bloomberg). Sequoia has backed both OpenAI and Anthropic, making it one of the few firms with significant stakes in the two dominant frontier-model labs, both of which are reportedly exploring public listings in 2026.