Anthropic Weighs $40–50 Billion Raise at Up to $900 Billion Valuation as Revenue Surges

New updates have been reported about Anthropic.

Anthropic is considering a major new private funding round that could raise $40 billion to $50 billion and value the Claude maker between $850 billion and $900 billion, according to multiple sources familiar with the talks. The company has received several preemptive offers from investors and is expected to decide on both the size of the round and final valuation at a board meeting in May, with pressure mounting as this may be its last private raise before an eventual IPO.

Investor demand is described as intense, with at least one institutional investor ready to commit up to $5 billion reportedly still unable to secure a meeting with CFO Krishna Rao. The renewed interest follows a sharp acceleration in Anthropic’s business: management recently disclosed that its annual revenue run rate has exceeded $30 billion, up from about $9 billion at the end of 2025, and one source said current run rate is closer to $40 billion.

A significant portion of this revenue is being driven by Anthropic’s AI coding products, particularly the Claude Code and Cowork offerings, which are gaining traction among enterprise users. Investors see substantial upside as the company moves to deepen its presence in sectors such as financial services, life sciences, and healthcare, where large-scale automation and advanced AI assistants are expected to drive new demand and high-margin workloads.

Anthropic last raised capital in February at a $380 billion valuation, so a new round at the levels currently being discussed would more than double its private market value in just a few months. Such an outcome would place Anthropic on par with or above its closest rival’s latest valuation and further cement its position as one of the most highly valued private AI companies globally.

While the company declined to comment on the potential financing, the scale of the proposed round and the revenue trajectory indicate that Anthropic is aggressively capitalizing on its current growth window. For executives and investors, the key questions now center on how quickly the company can convert its run-rate gains into durable, diversified revenue streams and whether this round sets the stage for a near- to medium-term public listing.

If completed at the rumored terms, the transaction would also provide Anthropic with a sizable capital buffer to invest in model training, infrastructure, and vertical-specific solutions, as well as to compete more forcefully for enterprise and developer adoption. The outcome of the May board decision will be a critical signal for the broader AI capital markets, given Anthropic’s role as a bellwether for late-stage private valuations in the sector.