Claude maker Anthropic is set to close a funding round exceeding $30 billion at a valuation above $900 billion, in what would be its largest raise yet and likely its final private round before an IPO. The deal would make Anthropic the world's most valuable AI startup, edging past rival OpenAI's $852 billion valuation from March 2026.
Sequoia Capital, Dragoneer Investment Group, Altimeter Capital and Greenoaks Capital Partners are co-leading the round, each investing roughly $2 billion, with existing backers Founders Fund and General Catalyst also expected to participate.
The raise comes as Anthropic's business accelerates: the company projects $10.9 billion in Q2 revenue, is tracking toward its first profitable quarter, and expects an annualized run rate above $50 billion. It has also locked in roughly $45 billion in computing capacity through deals tied to SpaceX and Akamai. Terms are still being finalized and no deal is guaranteed.