Anthropic is reportedly raising up to $50 billion in a new funding round this summer, with a pre-money valuation of around $900 billion. If completed, the deal would push its valuation past OpenAI's record of $852 billion set in March.
According to the Financial Times, Anthropic's annualized revenue is approaching $45 billion — a fivefold increase from $9 billion late last year. The surge is being driven by adoption of its developer tool Claude Code and Cowork, a collaboration product aimed at non-technical users, helping the company steal enterprise market share from OpenAI. Multiple sources also say Anthropic is internally preparing for an IPO as soon as late this year.
The massive capital raise is intended to fill a compute gap caused by rapid expansion. Anthropic has recently hit capacity constraints, and its powerful new model, Mythos, is currently only available to a handful of partners — a full rollout would require enormous compute resources. To lock in long-term supply, Anthropic has in the past two months finalized compute deals with SpaceXAI, Google, Broadcom, and AWS, which will generate hundreds of billions of dollars in compute costs over the next several years.