Anthropic Closes $30B at $900B Valuation, Tops OpenAI
3 min readAnthropic has agreed terms on a $30 billion funding round at a $900 billion pre-money valuation, putting the Claude maker on track to overtake OpenAI as the world’s most valuable private AI company when the deal closes this week.
The round is co-led by Sequoia Capital, Dragoneer, Greenoaks, and Altimeter, with each firm contributing roughly $2 billion. Existing backers including Peter Thiel’s Founders Fund and General Catalyst are also expected to participate. If the terms hold, Anthropic’s valuation will land just ahead of OpenAI’s $852 billion mark set in March.
From $380 Billion to $900 Billion in Three Months
The pace here is the story as much as the headline number. Anthropic raised a $30 billion Series G in February at a $380 billion post-money valuation, led by Singapore’s GIC and Coatue. Three months later it is pricing a second $30 billion round at more than double that valuation. Stretching out the timeline, the company’s valuation has grown roughly 15-fold in about 14 months.
According to Bloomberg, the round is expected to close as soon as this week. Term sheets are signed but the wire transfers and final paperwork remained the gating items as of the weekend.
What Investors Are Buying
Anthropic has been on a tear by every commercial metric that matters. Reported revenue run rate crossed $30 billion earlier this month, ahead of OpenAI on that line. Claude has become the default model inside large swaths of the enterprise developer base, and Mythos, the company’s automated vulnerability-discovery system, has put it at the front of the AI security conversation.
On the capacity side, Anthropic now has long-term compute commitments from Google (5 gigawatts), Amazon (multi-billion-dollar commitments via AWS), and a recently disclosed interest in Microsoft’s Maia 200 silicon. The new $30 billion gives the company the cash to convert those commitments into deployed clusters without renegotiation pressure.
Why It Matters
A $900 billion private valuation reshapes the AI funding landscape. It sets a new ceiling for the next round of frontier-lab raises, pulls more late-stage capital into the sector, and tightens the gap between private valuations and the public market valuations of hyperscalers. It also raises the stakes on Anthropic’s reported IPO timeline, which insiders have begun nudging from “eventually” toward 2027.
The watch items from here are governance and concentration. Four co-leads writing $2 billion checks each is a lot of board influence to absorb at once, and the AI valuation curve has now decoupled from any normal revenue multiple. Whether the public markets will validate these numbers when an IPO arrives is the question every investor in this round is implicitly betting on.