Anthropic Seeks $50 Billion Pre-IPO Round at Valuation Approaching $1 Trillion

New updates have been reported about Anthropic.

Anthropic is moving to close what is expected to be its final private funding round, asking investors to submit allocations within 48 hours for an approximately $50 billion raise that is slated to wrap up in about two weeks. The company is targeting a valuation of roughly $900 billion for this round, and sources indicate that strong investor demand could push the final figure even higher.

This capital is intended to support Anthropic’s escalating compute requirements as it prepares for a potential IPO later this year, with several early investors opting to sit out this round in anticipation of liquidity at listing. While Anthropic recently disclosed an annual revenue run rate above $30 billion, sources familiar with its financials say the figure is closer to $40 billion, underscoring rapid growth ahead of a public debut.

The prospective $900 billion valuation would more than double the $380 billion level achieved in its February financing, marking one of the steepest step-ups in private tech valuations and positioning Anthropic ahead of its main rival, OpenAI, which reportedly closed a $122 billion round at an $852 billion post-money valuation earlier this year. This latest raise, if completed as indicated, would not only cement Anthropic’s status as a dominant AI platform company but also set the stage for one of the most closely watched IPOs in the sector, with material implications for employees, early backers, and strategic partners tied to its long-term compute and product roadmap.