The company is considering offers for around $50 billion at a valuation of $850–$900 billion, with a board decision anticipated in May and a possible IPO by October 2026.
Anthropic is evaluating a new funding round at a valuation exceeding $900 billion, as reported by Bloomberg, citing individuals familiar with the situation. Discussions are preliminary, and no offers have been approved, sources mentioned. The company refused to comment.
A board decision regarding proceeding is expected in May. If terms are met, Anthropic would surpass OpenAI, valued at $852 billion in its recent $122 billion round in March, becoming the top-valued private AI company globally.
This round could more than double Anthropic’s current valuation. The company secured $30 billion in February 2026 at a $380 billion valuation, marking the second-largest private funding round historically.
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The rapid increase in valuation is remarkable even by current AI industry standards, rising from $61.5 billion in March 2025 to $183 billion in its Series F by September, $380 billion in February, and potentially exceeding $900 billion in May.
What is causing the demand?
Two factors have converged to create investor urgency. First is Anthropic’s revenue trajectory. The company’s annual revenue run rate reached about $9 billion by the end of 2025 and $30 billion by March 2026, with current revenues exceeding $30 billion annually.
No American tech company has ever grown this fast. Enterprise customers now account for roughly 80% of Anthropic’s revenue, with over 1,000 businesses spending more than $1 million annually on its offerings.
Secondly, Mythos, Anthropic’s advanced cybersecurity model announced on April 7, prompted high-profile meetings involving Trump administration officials, tech CEOs, and bank executives. The company needs significantly more compute resources to meet increasing demands.
Today, the White House expressed opposition to expanding Mythos access due to a lack of computing power that could affect the government’s access.
Anthropic recently secured major compute commitments from Amazon and Google, investing up to $25 billion and $40 billion while providing 5 gigawatts of compute capacity each.
Yet, operating a model as complex as Mythos at scale demands more than existing resources. A primary funding round gives Anthropic financial flexibility to purchase additional compute capacity directly.
IPO anticipation
The discussions’ timing aligns with Anthropic’s reported IPO plans. According to Bloomberg, a public listing could occur by October 2026. TechCrunch sources describe the prospective $50 billion round as possibly the final private fundraise before public listing.
Anthropic is reportedly in talks with