The race to dominate artificial intelligence is about to break another record.
Anthropic, the company behind the Claude AI assistant, has begun asking investors to submit allocations for its latest fundraise within 48 hours, according to sources familiar with the matter. The round, which TechCrunch reported is expected to be roughly $50 billion, is estimated to close within two weeks.
If completed at the terms being discussed, Anthropic would not only more than double its February valuation of $380 billion. It would also surpass its chief rival OpenAI, which closed a record-breaking $122 billion round at an $852 billion valuation earlier this year.
The fundraising push comes as the company prepares for a potential initial public offering as early as October 2026, according to Bloomberg. This round is widely seen as Anthropic's final private fundraising before it goes public.
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The Deal: $50 Billion at a $900 Billion Valuation
Investor interest in Anthropic has reached what sources describe as a "feverish pitch". The company has received multiple preemptive offers to raise fresh capital of around $50 billion at a valuation in the range of $850 billion to $900 billion.
"Given the soaring demand from investors seeking a stake in the company, the final valuation may well exceed that figure," TechCrunch reported, citing people with direct knowledge of the matter. One institutional investor prepared to commit as much as $5 billion has yet to secure a meeting with Anthropic CFO Krishna Rao, underscoring how much demand outstrips supply.
The accelerated timeline is unusual even by Silicon Valley standards. Anthropic is asking for commitments within 48 hours, with the entire round expected to close within two weeks. A final decision on the round and its valuation is expected at the company's board meeting in May.
Not every early backer is participating. Some investors - particularly those who invested in 2024 or earlier - are skipping this round entirely. Instead, they are waiting to potentially cash out during Anthropic's anticipated IPO later this year.
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The Growth Story: $30 Billion in Revenue and Climbing Fast
The frenzy is not without reason. Anthropic's financial performance has been nothing short of extraordinary.
The company announced this month that its annual revenue run rate has surpassed $30 billion. According to sources with knowledge of Anthropic's internal financials, the actual figure is closer to $40 billion. For context, the company's revenue reached about $9 billion by the end of 2025 and jumped to around $30 billion by March 2026.
No US tech company has ever grown revenue this fast. Around 80 per cent of Anthropic's revenue comes from business customers, with more than 1,000 companies paying over $1 million annually for its services.
A large portion of that revenue is driven by Anthropic's AI coding capabilities, specifically through its Claude Code and Cowork platforms. Many investors believe the company is only scratching the surface of its potential, with massive opportunities to expand into finance, life sciences, and healthcare.
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The Mythos Factor and Computing Hunger
Another key driver of investor enthusiasm is Mythos, Anthropic's cybersecurity-focused AI model launched on April 7. The model has attracted attention from US government officials, big tech leaders, and bank executives.
But Mythos also explains why Anthropic needs this round. The company requires significantly more computing power to run Mythos at scale. The White House has reportedly expressed concerns that Anthropic does not have enough computing capacity, which could affect government access if more users are added.
Anthropic has already secured massive commitments from strategic backers. Amazon plans to invest up to $25 billion and provide compute capacity. Google has committed up to $40 billion and additional computing power. Even with these commitments, the company still needs more compute to scale Mythos. The new funding will help Anthropic directly purchase additional computing resources.
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The IPO Countdown
Anthropic's IPO preparation has been underway for months. The company is in talks with major banks, including Goldman Sachs, JPMorgan Chase, and Morgan Stanley.
The IPO could raise around $60 billion, and a $900 billion valuation would make it one of the largest public offerings in history.
The timing is strategic. Both Anthropic and OpenAI are widely expected to go public in 2026. Whichever company strikes first will have a significant advantage in the public markets - a permanent valuation benchmark and the ability to use public shares as acquisition currency.
For now, Anthropic's momentum appears unstoppable. The company's valuation stood at $61.5 billion in March 2025. It rose to $183 billion by September 2025, then to $380 billion in February 2026. Now, it is aiming for more than $900 billion in May 2026.
In just 14 months, Anthropic has added nearly $840 billion in valuation - a trajectory that would have seemed impossible even by the inflated standards of the AI boom.
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A Rivalry for the Ages
If Anthropic closes this round at the reported valuation, it will officially dethrone OpenAI as the world's most valuable AI startup.
OpenAI was valued at $852 billion in March 2026 following its own record-breaking fundraise. But while OpenAI has been navigating internal turbulence, leadership controversies, and questions about its strategic focus, Anthropic has been quietly executing.
The contrast in trajectories is becoming impossible to ignore. Anthropic's enterprise momentum is accelerating, its revenue is growing faster than any previous US tech company, and its new model Mythos, has captured the attention of government officials and corporate executives alike.
The question is no longer whether Anthropic can catch OpenAI. It is whether OpenAI can stop Anthropic from pulling away.
What This Means for India
India is Anthropic's second-largest market, and the company has been aggressively expanding its presence. The Bengaluru office, opened in February 2026, is already scaling. Nearly half of Claude usage in India involves computer and mathematical tasks, with major customers including Air India, CRED, and Cognizant.
Anthropic's run-rate revenue in India has doubled since October 2025. The company is also investing heavily in Indian languages, curating training data in 10 widely spoken languages, including Hindi, Bengali, Tamil, and Kannada.
Anthropic is also working with nonprofits like Pratham to pilot an AI-powered testing system for students across 20 schools, with plans to expand to 100 schools by the end of 2026.
For Indian AI professionals, Anthropic's soaring valuation is a signal. The company's enterprise-first approach is winning, and its agentic AI tools are being deployed at scale across the country's largest companies. The demand for skills in Claude development, agent orchestration, and enterprise AI integration is only going to grow.
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The Bottom Line
Anthropic is nowadays away from finalising what is likely to be its last private funding round. At $900 billion or more, the valuation would be a testament to the company's extraordinary growth, the hunger of investors to own a piece of the AI future, and the sheer scale of computing power required to compete.
The round is expected to close within two weeks. The IPO clock is ticking. And Anthropic is on the verge of becoming the most valuable private AI company in the world.
For now, the company is keeping its foot on the accelerator. There is no finish line in sight.
FAQ
Q: How much is Anthropic raising in this round?
A: The round is expected to total $40 billion to $50 billion, according to TechCrunch sources. Investor demand appears to be much higher given the company's rapid growth.
Q: When will the round close?
A: Anthropic is asking investors to submit allocations within 48 hours, and the round is estimated to close within two weeks.
Q: Will this make Anthropic more valuable than OpenAI?
A: Yes. OpenAI was valued at $852 billion in March 2026. A $900 billion valuation would make Anthropic the world's most valuable AI startup.
Q: Is Anthropic going public?
A: Reports indicate Anthropic is targeting an IPO as early as October 2026. This funding round is expected to be its last private raise before going public.
Q: How is Anthropic's revenue growing so fast?
A: Anthropic's annual revenue run rate surpassed $30 billion in April 2026, up from roughly $9 billion at the end of 2025. Around 80 per cent of revenue comes from business customers, with over 1,000 companies paying more than $1 million annually.
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Are you building on Claude or following Anthropic's IPO plans? Drop your thoughts in the comments below.
If you found this breakdown useful, share it with a colleague who is tracking the AI funding race. The next two weeks could change the valuation landscape forever.
Tags: Anthropic, Claude, AI Funding, IPO, OpenAI, Generative AI
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