Anthropic Closing $30B+ Round at $900B Valuation — Now More Valuable Than OpenAI

Anthropic is about to become the most valuable private AI company in the world. Bloomberg reported on May 22 that the company is finalizing a funding round of over $30 billion at a pre-money valuation exceeding $900 billion — eclipsing OpenAI’s $852 billion valuation from March 2026. The deal is expected to close the week of May 26.

Sequoia Capital, Dragoneer, Altimeter Capital, and Greenoaks Capital are co-leading the round, each committing approximately $2 billion. Founders Fund and General Catalyst are also participating. This follows Anthropic’s $4 billion round at a $380 billion valuation in February 2026 — meaning the company’s valuation has more than doubled in roughly three months.

The numbers behind the raise are extraordinary. Anthropic is projecting $10.9 billion in Q2 2026 revenue, more than doubling the prior quarter’s figures. The company expects its annualized run rate to exceed $50 billion by the end of June. These are not startup projections — they are the kind of figures that typically accompany late-stage companies preparing for an IPO.

Revenue is being driven by the Claude API and Claude Code, which have seen explosive enterprise adoption as AI coding assistants and autonomous agents move from experimentation into production. The Claude Pro and Claude Max subscription tiers are also contributing meaningfully to the top line.

The valuation milestone reflects a broader shift in how investors are pricing AI infrastructure companies. Anthropic, unlike OpenAI, has remained focused on safety-first model development and its Acceptable Use Policy is notably stricter. That positioning has attracted enterprise customers who need predictable compliance guarantees — especially in regulated industries like finance, healthcare, and legal services.

For developers building on Anthropic’s platform, the capital raise signals long-term stability. More runway means continued model improvements, expanded rate limits, and the ability to price the API aggressively to fend off competition. Anthropic has consistently shipped new model capabilities ahead of schedule — Claude 3.7 Sonnet, Claude Mythos, and Claude Code — and a $30 billion war chest makes that cadence sustainable.

The deal also cements the bifurcation of the frontier AI market. OpenAI and Anthropic are now in a category of their own in terms of valuation and capital. Google DeepMind, which is structurally inside Alphabet, and Meta AI, which operates as a cost center, are not directly comparable. The next-closest pure-play AI lab by valuation is xAI, still well behind.

If Anthropic closes at $900 billion, it will be the largest pre-IPO private company valuation in history, surpassing ByteDance ($225B at its peak) and the previous record holders from the dot-com era. What happens when the Claude API becomes the infrastructure layer for entire enterprise software categories — and who owns that infrastructure — is no longer a hypothetical question.