Anthropic Eyes $900B Valuation as OpenAI Funding Race Builds

Anthropic Eyes $900B Valuation as OpenAI Funding Race Builds

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Anthropic Weighs $50B Raise at $900B Valuation to Overtake OpenAI
  • Anthropic is discussing up to $50B at a possible $900B valuation, FT sources reported.
  • The funds would support wider compute capacity as demand for Claude continues to grow.
  • The round could strengthen Anthropic against OpenAI as both firms seek more AI capital.

Anthropic could become the most valuable private AI company if its reported funding talks succeed. The Claude developer is considering a round of up to $50 billion at a possible $900 billion valuation, though the deal has not been finalized.

The company has not commented on the report. A completed round at that level would place Anthropic above OpenAI, which reached an $852 billion post-money valuation after its $122 billion March financing round.

Anthropic Fundraising Push Builds Speed

According to a report, Anthropic is seeking capital to expand its computing capacity. Frontier AI companies need large infrastructure budgets to train and operate advanced models. Rising demand for Claude has added more weight to the company’s funding plans.

An investor cited in the report said Anthropic continues to draw strong interest from potential backers. The investor suggested that funding is available, but the next step depends on the company’s decision to proceed.

Revenue growth is strengthening Anthropic’s valuation argument. Sources cited in the report said the company’s annualized revenue could exceed $45 billion, compared with $9 billion at the end of 2025.

How Anthropic Challenges OpenAI’s Lead

OpenAI is also laying the groundwork for a possible public listing. Reuters reported in October 2025 that the company was considering a regulatory filing as soon as the second half of 2026. CFO Sarah Friar has aimed for a possible 2027 listing, according to that report.

The company has also crossed $25 billion in annualized revenue. OpenAI’s latest funding round gave it $122 billion in committed capital at an $852 billion post-money valuation.

Cost pressure remains a major issue for OpenAI. Reuters reported in February that OpenAI’s 2025 revenue totaled about $13 billion, while spending stood near $8 billion. The company is also targeting roughly $600 billion in compute spending through 2030.

The company has also announced a new enterprise AI services company with Blackstone, Hellman & Friedman, and Goldman Sachs. The venture would help mid-sized companies use Claude in core operations and is backed by several alternative asset managers.

If completed, the funding round would strengthen Anthropic’s position in AI financing. It would also increase competition with OpenAI as both companies seek more capital for infrastructure growth.

Related: Anthropic Secures 220,000 NVIDIA GPUs Through SpaceX Partnership

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