Anthropic, the developer of the Claude AI model, has reportedly agreed to terms for a massive $30 billion funding round that would value the company at approximately $900 billion, according to the Financial Times. If completed, this would nearly triple its last confirmed valuation of $380 billion from February and rank among the largest private tech financings ever.
The funding round is led by prominent investors including Greenoaks Capital, Sequoia Capital, Dragoneer, and Altimeter Capital, as reported by The Wall Street Journal. The round could potentially exceed the $30 billion target, with the company raising capital ahead of a possible initial public offering (IPO). Anthropic is projecting a $50 billion revenue run-rate by mid-2026, up sharply from $9 billion at the end of 2025, according to the Journal.
This reported valuation brings Anthropic closer to its main rival, OpenAI, which announced on March 31 that it raised $122 billion in committed capital at a post-money valuation of $852 billion. The timing is critical as there is no public market trading on Sundays, and U.S. exchanges operate only on weekdays from 9:30 a.m. to 4 p.m. ET, meaning investors can only assess Anthropic through private deals and IPO speculation.
The fundraising effort is not solely focused on boosting valuation. Reuters reported earlier this month that Anthropic was considering raising tens of billions of dollars this summer to increase spending on computing power, which is essential for developing and running new AI models. The company last reported funding in February, announcing $30 billion in Series G funding led by GIC and Coatue at a $380 billion post-money valuation.
Anthropic has also been demonstrating its technology's potential beyond chatbots. The company and the Gates Foundation announced plans to invest $200 million over four years into AI for health and education initiatives. Anthropic will provide technical support and Claude credits, while the foundation manages grants and program design.
In preparation for a potential IPO, Anthropic is tightening restrictions on stock sales. The company's help center, updated this week, states that any stock sale not approved by its board is void. Anthropic also prohibits special purpose vehicles (SPVs) from buying its shares and warns that offers of indirect access may be invalid or scams.
However, the path to an IPO is not without challenges. AI valuations are tied to steady revenue growth, chip and power supply, and public investor appetite for companies burning through significant cash. Reuters Breakingviews noted in March that Big Tech was set to spend about $650 billion this year, mostly on AI data centers, citing Morgan Stanley's forecast of $2.9 trillion in global data-center investment between 2025 and 2028.
Investors are closely watching whether this week will bring a signed deal after earlier reports of talks and agreed terms, and whether the round holds at $30 billion or goes higher. Market focus is also on whether Anthropic will disclose additional backers, provide more details on IPO timing, or keep details under wraps.
