Anthropic is in early talks with investors to raise at least $30 billion at a pre-money valuation of more than $900 billion, according to Bloomberg, citing people familiar with the matter. If completed, the deal could close as soon as the end of this month. At that level, the Claude developer would be valued above OpenAI’s $852 billion valuation from its March financing round.
Valuation jump would put Anthropic ahead of OpenAI on paper
The scale of the proposed round is notable, but the valuation is what stands out most. Anthropic, founded in 2021 by former OpenAI employees, is discussing terms that would place its pre-money valuation above $900 billion. Bloomberg said the financing would be the company’s largest to date if it moves ahead.
That figure would also place Anthropic ahead of OpenAI based on the latest disclosed fundraising benchmarks. The report said Anthropic has been gaining ground in the AI market and seeing strong uptake for enterprise tools, including products used for coding and cybersecurity work.
Compute spending and IPO timing are central to the plan
Bloomberg said the company’s need for fresh capital is tied to the high cost of computing infrastructure. Demand for AI software and models has been growing quickly, and supporting that usage requires heavy spending on the hardware and infrastructure needed to train and run large models. This is not a minor budget item. It is one of the biggest cost centers for major AI firms.
The timing also carries weight. Bloomberg had previously reported that Anthropic is internally evaluating the possibility of launching an IPO as early as October this year. A large financing round before that point would expand its cash position and reset its valuation higher ahead of any listing process. Anthropic declined to comment on the fundraising report.
Google and Amazon commitments remain a major support factor
Anthropic’s position in these talks is also shaped by earlier commitments from Google and Amazon. According to the report, Google had previously agreed to invest $10 billion in Anthropic at a $350 billion valuation, with plans to add as much as $30 billion more if the startup meets certain performance targets. Amazon had also invested $5 billion at the same $350 billion valuation, with plans to commit up to $20 billion over time.
It is not yet clear whether either company will join the new round expected to be discussed by the end of the month. What is clear from the report is the speed of the repricing: Anthropic was associated with a $350 billion valuation in February, and it is now being discussed at more than $900 billion as competition for capital and compute in AI intensifies.