Anthropic is on the verge of closing a new funding round of more than $30 billion at a valuation above $930 billion, according to people familiar with the terms. Bloomberg first reported the imminent close on May 22. If finalized, the deal would make Anthropic the world's most valuable private technology company, ahead of OpenAI's roughly $852 billion valuation.
The raise comes just three months after Anthropic closed a $30 billion Series G at a post-money valuation of $380 billion in February. The near-tripling of implied value in that span is a function of revenue growth that has outpaced almost any comparable software company in history. Anthropic CEO Dario Amodei said in a recent interview that first-quarter usage and revenue, measured on an annualized basis, grew roughly 80 times compared to the year-earlier period, well ahead of the tenfold growth the company had internally projected.
Revenue That Makes the Valuation Legible
Anthropic has told investors it expects to generate $10.9 billion in revenue in the second quarter of 2026, more than double what it posted in the first three months of the year. By the end of June, the company says its annualized run rate will clear $50 billion. As recently as January 2024, Anthropic's annualized revenue was $87 million. That move from $87 million to a $50 billion-plus run rate in roughly two and a half years is without a close parallel in enterprise software.
The second quarter is also expected to be Anthropic's first profitable quarter on a net basis. Anthropic has not confirmed those figures publicly, but investor materials reviewed by Bloomberg suggest the milestone is within reach. That profitability projection, alongside the revenue numbers, helps explain why four large growth funds are each reportedly ready to write $2 billion checks.
Round at a Glance
- Round sizeOver $30 billion
- Implied valuation~$930 billion
- Previous round$30B Series G at $380B (February 2026)
- Q2 2026 revenue (estimated)$10.9 billion
- Projected annualized run rateOver $50 billion by end of June
- Prior annualized run rate$87 million (January 2024)
Who Is Writing the Checks
Sequoia Capital, Dragoneer Investment Group, Altimeter Capital, and Greenoaks Capital Partners are each expected to contribute roughly $2 billion as co-leads. Founders Fund, the venture firm associated with Peter Thiel, and General Catalyst, both existing Anthropic investors, are also expected to participate. The round came together quickly, a sign of the intensity of investor interest in Claude's maker. Bloomberg noted that commitments were still being finalized and terms could change before closing.
"The artificial intelligence startup could close the round as soon as this week, though commitments are still being finalized, and the terms could change." Bloomberg, May 22, 2026
The Competitive Framing
For investors, this round is partly a bet on Anthropic's momentum and partly a position in the race between the top two frontier AI labs. Anthropic was named the number-one company on the 2026 CNBC Disruptor 50 list in May, a ranking partly reflecting its enterprise traction. Claude has become the primary AI tool for a growing share of Fortune 500 companies, and that enterprise base is the core of Anthropic's revenue story. Anthropic's CNBC Disruptor 50 ranking placed it ahead of every other AI company on the list.
The new round also arrives as Anthropic manages some of the heaviest infrastructure costs in the industry. The company has committed billions to compute contracts with multiple cloud providers and data center operators as demand for Claude scales. Those costs are why reaching profitability matters to investors as much as growth, since demonstrating operating leverage at this revenue level would confirm that Anthropic's model economics can sustain the pace of spending.
What Happens at $930 Billion
At this valuation, Anthropic would surpass OpenAI in the private market, a symbolic milestone that carries weight with enterprise procurement teams evaluating long-term AI vendor relationships. Customers signing multi-year contracts with an AI provider factor in financial stability, and a company with a $930 billion valuation backed by 80x revenue growth is a materially different counterparty than a speculative bet. For an industry that has spent years asking whether AI companies could build durable businesses, Anthropic's current numbers are a reasonably clear answer.
