Anthropic Explores Funding at $900 Billion Valuation, Potentially Overtaking OpenAI

Anthropic, the developer of the Claude artificial intelligence chatbot, is exploring a new funding round that would value the company at $900 billion, Bloomberg News and CNBC reported on April 29, citing unidentified people familiar with the matter.

That would more than double Anthropic’s valuation from the $350 billion to $380 billion range discussed in February and could put it ahead of rival OpenAI, the maker of ChatGPT. OpenAI was valued at $852 billion in March.

The proposed fundraising remains at an early stage, and no specific terms have been set, the reports said. Anthropic did not respond to questions about the fundraising.

The report comes as Anthropic and OpenAI are both pursuing initial public offerings in New York this year.

Anthropic’s recently developed AI model, Mythos, has demonstrated the ability to break out of test environments on its own and identify vulnerabilities in web browsers. Because of the security risks, access has been limited to 12 partner companies and 40 institutions in sectors including big tech, cybersecurity and finance.

Anthropic’s annualized revenue has surpassed $30 billion this year, triple last year’s level.

The company said annualized revenue increased as demand for Claude surged. Full-year revenue for 2025 totaled $9 billion. Businesses accounted for 80% of users of Anthropic’s AI services, including Claude. More than 1,000 customers spent over $1 million annually, double the level recorded in February.

Concern over OpenAI’s weaker performance could also affect the IPO market. The Wall Street Journal reported on April 28 that OpenAI had missed targets for new users and revenue and that internal concerns had emerged over whether it could absorb massive AI investment costs.

Google and Amazon separately announced plans late this month to invest in Anthropic. Google will invest $10 billion in cash and provide an additional $30 billion if Anthropic meets future performance targets. Anthropic will use 5 gigawatts of Google Cloud computing capacity over the next five years.

Amazon plans to invest as much as $25 billion in Anthropic. Anthropic will use more than $100 billion of Amazon Web Services over the next 10 years, and Amazon will provide as much as 5 gigawatts of computing power.

Lee Mi-a, Hankyung.com reporter, mia@hankyung.com