Anthropic Closing $30B Funding Round at $900B+ Valuation

Anthropic is set to close its latest funding round — exceeding $30 billion at a valuation above $900 billion — as soon as next week, according to Bloomberg. The round would vault the Claude maker past rival OpenAI, which was last valued at $852 billion in March, to become the world's most valuable artificial intelligence startup.

Sequoia Capital, Dragoneer Investment Group, Altimeter Capital, and Greenoaks Capital Partners are expected to co‑lead the financing, with each firm planning to invest roughly $2 billion, Yahoo Finance reports. Existing investors including Peter Thiel's Founders Fund and General Catalyst are also expected to participate.

The commitments are still being finalized and terms could change. But the round came together within weeks after Anthropic began discussions earlier this month, following inbound proposals received in late April — a sign of the extraordinary investor appetite for AI infrastructure bets.

The velocity of Anthropic's valuation is unlike anything in enterprise software history. As ² documented, the company has jumped from $61.5 billion in March 2025 to $183 billion by September 2025, then $380 billion in February 2026, and now $900 billion‑plus — roughly 15x in 14 months on the same business, products, and market.

The revenue story backs up the valuation. Anthropic expects to report $10.9 billion in revenue for the second quarter, more than double the previous three‑month period, and is on pace for its first profitable quarter, per Bloomberg. The company has told investors its annualized run rate will exceed $50 billion by the end of June — up from a $4 billion run rate in July 2025.

At a conference this month, CEO Dario Amodei said the firm experienced 80x growth in annualized revenue and usage in the first quarter of 2026 alone.

The answer is straightforward: compute. Anthropic has already arranged a nearly $45 billion deal with Elon Musk's SpaceX for computing capacity and a $1.8 billion agreement with Akamai Technologies, according to Yahoo Finance. The company has also secured chips and cloud services from Alphabet's Google.

This creates what ² calls a cycle of raise‑to‑buy‑compute‑to‑grow‑revenue‑to‑raise‑more. Anthropic's 2026 compute spend on training and inference is estimated at roughly $19 billion, approximately matching full‑year revenue.

The urgency is real. Dario Amodei has said publicly that a 12‑month delay in AI progress would make Anthropic bankrupt — a statement that Forbes characterizes as highly unusual for a CEO who just raised the largest private round in history.

The enterprise traction explains why investors are writing checks this large. Eight of the Fortune 10 are now Anthropic customers, and over 1,000 enterprise accounts spend more than $1 million per year on Claude — up from roughly 12 accounts at that level two years ago, per.² Anthropic models now power an estimated 4% of all GitHub public commits worldwide.

Claude Code, the company's agentic coding tool, hit $2.5 billion in annualized revenue by February 2026 — just nine months after its general availability launch. Business subscriptions quadrupled in the six weeks after January 1, 2026. The tool now has 29 million daily VS Code installs and is used by companies including Netflix, Spotify, KPMG, and Salesforce, according to Sacra. As the company stated when announcing the previous round:

Not everyone agrees on how big Anthropic actually is. OpenAI has publicly disputed Anthropic's revenue figures, arguing that the reported $30 billion annualized revenue uses gross‑revenue accounting — booking full end‑customer spend when models are accessed through AWS, Google Cloud, and Azure, then recording partner payouts as expenses. OpenAI claims Anthropic's net revenue is closer to $22 billion, an $8 billion gap, according to Forbes.

Both numbers are large. But the gap between them is the kind of methodology choice that becomes a public‑market disclosure issue at IPO — and Anthropic is reportedly targeting an October 2026 public listing, Yahoo Finance reports.

Gross margins have also compressed to roughly 40% after inference costs ran 23% over projections — lower than typical enterprise SaaS comparables. Anthropic is not expected to be profitable until 2028, which is unusual for a company being priced at $900 billion.

Anthropic's funding round lands in the middle of the most concentrated AI IPO pipeline in history. SpaceX has filed to go public on June 12, OpenAI is targeting a September debut at a potential $1 trillion valuation, and Anthropic is eyeing October. Together, the three companies could raise hundreds of billions of dollars from public markets in a single quarter, Yahoo Finance reports.

Some early Anthropic investors who entered at $4.1 billion in 2023 or $61.5 billion in March 2025 are reportedly sitting out this round, waiting for the IPO instead. Bankers expect Anthropic to list at $400‑500 billion — well below the $900 billion private valuation. If that happens, late‑stage private investors in this round would be underwater before the lockup expires, Forbes notes.

For the developers and builders who use Claude every day, a $900 billion Anthropic means several things. First, massive compute investment translates directly to faster inference, longer context windows, and more capable models. The $45 billion SpaceX deal alone guarantees capacity that smaller AI labs cannot match.

Second, Claude Code's trajectory — $2.5 billion in revenue, 29 million VS Code installs, 4% of all GitHub commits — suggests Anthropic is winning the developer tools race. More funding means more investment in the coding agent experience.

Third, the enterprise adoption numbers mean Claude is becoming a professional standard. Building with Claude today means building with the tool that major enterprises are standardizing on. But the breakneck valuation also means Anthropic has no room for error — if Claude's coding capabilities slip relative to competitors, the financial consequences would be severe.