Anthropic PBC has closed a financing round exceeding $30 billion at a pre-money valuation above $900 billion, according to reporting from Bloomberg, the Financial Times, and The Wall Street Journal. <cite index="2-3">The financing would make the Claude maker the world's most valuable artificial intelligence startup, surpassing rival OpenAI.</cite>
Round structure and investors
<cite index="2-4,2-5">Sequoia Capital, Dragoneer Investment Group, Altimeter Capital and Greenoaks Capital Partners are set to co-lead the round, with each firm planning to invest approximately $2 billion. Existing investors including Peter Thiel's Founders Fund and General Catalyst are also expected to participate.</cite> <cite index="2-7">The round came together within weeks after Anthropic began discussions earlier this month, following inbound proposals received in late April.</cite>
For context, <cite index="7-2">OpenAI was most recently valued at $852 billion in a funding round completed in March.</cite> The Anthropic deal therefore reorders the private-market hierarchy among frontier LLM (Large Language Model) developers.
Velocity of valuation growth
Anthropic's ascent has been unusually rapid. <cite index="4-15,4-16,4-17">The company was valued at $61.5 billion in March 2025. By September it had reached $183 billion in its Series F. In February 2026 it closed a $30 billion Series G — led by Singapore's GIC and Coatue Management — at $380 billion post-money, what Crunchbase described as the second-largest private financing round in history. If this round closes on reported terms, Anthropic's valuation will have grown roughly 15-fold in approximately 14 months.</cite>
Revenue trajectory
<cite index="4-19">The Wall Street Journal first reported, and CNBC confirmed, that Anthropic is on track to generate $10.9 billion in revenue in the second quarter alone — more than double its Q1 figure of $4.8 billion, and more than its entire 2025 revenue.</cite> <cite index="9-3">PYMNTS, citing Bloomberg, reports that Anthropic expects quarterly revenue to more than double to $10.9 billion in the second quarter and an annualized run rate to top $50 billion by the end of June.</cite> The Financial Times separately reported that <cite index="5-5">Anthropic's annualised revenue is expected to surpass $45 billion shortly, up fivefold from $9 billion at the end of last year.</cite>
Compute commitments
The fresh capital is tied to mounting infrastructure obligations. <cite index="2-8,2-9">Anthropic has arranged a nearly $45 billion deal with Elon Musk's SpaceX and a $1.8 billion agreement with Akamai Technologies Inc. to expand computing capacity. The company has also secured chips and cloud services from Alphabet Inc.'s Google.</cite> Existing strategic investors retain large stakes: <cite index="3-6,3-7,3-8">Google committed to invest $10 billion in Anthropic at a $350 billion valuation, the same amount it was valued at in a $30 billion funding round in February. The Alphabet Inc.-owned company plans to invest up to another $30 billion in Anthropic if the startup hits certain performance targets. Amazon.com Inc. is also investing $5 billion in Anthropic at a $350 billion valuation, with plans to inject $20 billion more over time.</cite>
IPO and litigation overhang
The round coincides with movement toward public markets across the sector. <cite index="4-4">On Friday, May 22, OpenAI filed its IPO prospectus confidentially with the U.S. Securities and Exchange Commission, with Goldman Sachs and Morgan Stanley leading the offering and a public listing targeting as early as September 2026.</cite> Bloomberg has previously reported Anthropic is considering an IPO (Initial Public Offering) as soon as October 2026.
Anthropic also faces a federal dispute. <cite index="4-9,4-10,4-11">Anthropic is also suing the U.S. Department of Defense, which designated the company a supply chain risk in March 2026 after the company declined to allow its technology to be used for autonomous weapons or mass surveillance of American citizens. A federal judge issued a preliminary injunction blocking enforcement of the designation, but the case remains active. Anthropic estimated the dispute put hundreds of millions to multiple billions of dollars of 2026 revenue at risk.</cite>