Anthropic weighs new funding round at up to $900 billion valuation

Anthropic is finding it difficult to resist pressure to secure more funding. The company is reportedly considering a new funding round expected to total $40 billion to $50 billion. This potential round could value the artificial intelligence company in the $850 billion to $900 billion range. Anthropic is expected to make a definitive decision on the round and its valuation at a board meeting in May, according to one person.

The maker of the Claude AI assistant has received multiple preemptive offers—funding offers made before a formal fundraising process begins—of around $50 billion. Earlier this month, Bloomberg and Business Insider reported that Anthropic received multiple preemptive bids at an $800 billion valuation, though the company had not committed to a fundraise at that time.

Current investor demand appears high, with some institutional backers struggling to gain access. One institutional investor prepared to commit as much as $5 billion has yet to secure a meeting with Anthropic CFO Krishna Rao, according to a source.

This interest follows rapid financial growth. Anthropic announced this month that its annual revenue run rate—the annual revenue projection based on current performance—has surpassed $30 billion. This represents a significant increase from roughly $9 billion at the end of 2025. Additionally, the company’s run rate is currently closer to $40 billion, according to one of the people with knowledge of the company’s financials. A large portion of this revenue is driven by the company’s AI coding capabilities, specifically through its Claude Code and Cowork platforms. Anthropic declined to comment.

If the company proceeds with the new round, it would more than double its previous valuation of $380 billion from February. The terms would also position Anthropic to match or exceed the valuation of its chief rival, OpenAI.

A comparison of the two rivals’ financing highlights the scale of the potential round:

• Anthropic: A potential round expected to total $40 billion to $50 billion, which could value the company in the $850 billion to $900 billion range.
• OpenAI: Closed a $122 billion round in February at an $852 billion post-money valuation—defined as the company valuation after external financing is added.

Why it matters

If Anthropic proceeds with this fundraise, it would more than double its valuation and position the company to match or surpass the scale of its chief rival, OpenAI.