Anthropic · 2026-04-29 · major
Anthropic Weighs $50B Funding Offers at $850–900B Valuation — Eclipsing OpenAI
Multiple preemptive offers of about $50B at $850–900B valuation. Decision expected at a May board meeting. Run-rate revenue topped $30B, with one source citing closer to $40B.
If accepted, Anthropic would leapfrog OpenAI's $852B post-money to become the world's most valuable AI startup.
Key specs
| Valuation | $850B–$900B |
|---|---|
| Round size | ~$50B |
| Previous valuation | $380B (Feb 2026) |
| Run rate revenue | $30B+ |
What is it?
Anthropic has received multiple preemptive offers from investors to raise around $50B at valuations between $850B and $900B, according to reporting from TechCrunch, CNBC, and Bloomberg on April 29, 2026. The company has not accepted yet and is expected to decide at a May board meeting. The last priced round in February 2026 closed at $380B.
How does it work?
These are inbound offers, not a structured roadshow. Allocation is reportedly oversubscribed — one institutional investor said to be ready to commit up to $5B has struggled to even get a meeting with the CFO. The amended Microsoft–OpenAI partnership (which uncapped OpenAI's distribution) and the GPT-5.5 / Mythos news cycle have pushed AI-lab valuations to record highs over the last two weeks.
Why does it matter?
Anthropic's run-rate revenue went from roughly $9B at end of 2025 to over $30B today — one source put it 'closer to $40B.' At $900B, Anthropic would surpass OpenAI's $852B post-money from earlier this year and likely cement Claude as the frontier-lab incumbent ahead of any IPO. It also signals investors are still willing to pay frontier-AI multiples even after the Microsoft–OpenAI exclusivity unwind.
Who is it for?
Anyone tracking AI lab competitive position, enterprise procurement of Claude, or pre-IPO secondary markets