The numbers have reached a scale that’s hard to wrap your head around: According to Bloomberg, Anthropic is in talks with investors for a new funding round of at least $30 billion. The target valuation: over $900 billion — pre-money.
More Valuable Than OpenAI
This would make Anthropic more valuable than OpenAI on paper for the first time. OpenAI’s last round came in at an $852 billion valuation. For a company founded in 2021, that’s a remarkable trajectory.
The deal isn’t signed yet. No term sheet, no firm commitment. But negotiations are underway, and Bloomberg reports a close could happen as early as the end of May.
What’s Behind the Numbers
The valuation isn’t pulled from thin air. Anthropic’s annualized revenue has climbed past $44 billion — a massive leap from where it was a year ago. Claude is no longer just a developer tool; it’s increasingly being adopted by businesses of all sizes. Recent launches — Claude for Legal, the SAP partnership, Claude for Small Business — show how aggressively Anthropic is pushing into new market segments.
The money is expected to flow primarily into compute. The recent SpaceX compute deal and the $200 billion commitment with Google Cloud make it clear where things are heading: Anthropic is building infrastructure for whatever comes next.
IPO on the Horizon
What happens after the round is equally interesting. Multiple reports suggest Anthropic may target an IPO as early as October 2026. A $30 billion round would then be the last major private raise — and a signal to the markets that Anthropic is ready for its next chapter.
The AI industry has officially entered a league that was previously reserved for tech giants. A $900 billion valuation for a startup that isn’t even five years old — that tells you a lot about what the market expects from this technology.
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