Anthropic raise talks are targeting a $900bn valuation and up to $50bn in fresh capital, sources told the Financial Times.
Summary
- Anthropic is in talks to raise up to $50bn at a pre-money valuation of $900bn, which would surpass OpenAI’s March valuation of $852bn.
- The round could close within two months, with Dragoneer, General Catalyst, and Lightspeed among interested investors and a board decision expected in May.
- Anthropic’s annualized revenue is on track to exceed $45bn, up from $9bn at the end of 2025, driven largely by Claude Code and enterprise adoption.
Anthropic raise talks are targeting a $900bn valuation and up to $50bn in fresh capital, sources told the Financial Times. The proposed round, first reported by Bloomberg on April 29, would push the Claude developer past OpenAI as the most valuable private AI company in the world. OpenAI was valued at $852bn post-money in March after closing a $122bn funding round.
The round has not been finalized and Anthropic has declined to comment. TechCrunch’s sources describe the raise as possibly the company’s final private funding event before a public listing, with Bloomberg reporting a potential IPO as early as October 2026.
A board decision on whether to proceed is expected this month. One investor in the company told the Financial Times: “People are ready to throw any dollar amount at Anthropic.”
Why the numbers are moving so fast
Anthropic’s annualized revenue run rate has surpassed $45bn, up from $9bn at the end of 2025, according to sources cited by the Financial Times, a fivefold increase in roughly five months.
As crypto.news reported, the company’s revenue milestone of $30bn was driven largely by Claude Code and its Cowork platform, with over 1,000 enterprise customers each spending more than $1 million annually. Amazon separately confirmed a $5bn additional investment in Anthropic in April, bringing its total potential commitment to $25bn.
Dragoneer, General Catalyst, and Lightspeed Venture Partners are among the investors in active discussions. CFO Krishna Rao has already met with prospective backers, and some existing shareholders have requested new allocations even though a formal process has not yet launched, according to TechCrunch.
What a $900bn raise means for crypto markets
As crypto.news tracked, Anthropic’s tokenized pre-IPO shares on Jupiter’s Prestocks venue already imply a $1.2 trillion valuation, above OpenAI’s secondary market mark of roughly $880bn.
That spread between private round pricing and on-chain secondary pricing signals aggressive front-running by crypto-native investors ahead of any public listing.
As crypto.news noted, Anthropic is also finalizing a $1.5bn joint venture with Blackstone, Goldman Sachs, and Hellman and Friedman targeting private equity portfolio companies, adding a separate commercial revenue channel that makes the valuation case harder to dismiss as purely speculative. If the round closes at $900bn, Anthropic would sit at roughly 20 times its February valuation of $380bn reached just three months ago.
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