Anthropic Explores New Round of Financing, Valuation Exceeds $900 Billion
Anthropic is considering investor offers for a new round of financing, aiming for a valuation exceeding $900 billion.
The company completed a $30 billion Series G financing in February, with a post-money valuation of $380 billion; this potential financing would more than double the current valuation.
Venture capital firms are competing to buy equity in Anthropic, shifting funds from early AI startups to top foundational model companies. Anthropic and the Claude ecosystem benefit, while competitors like OpenAI face pressure on valuation and resources.
Source: Public Information
ABAB AI Insight
Anthropic was founded in 2011 by former OpenAI executives including Dario Amodei. From 2023 to 2025, it rapidly expanded through multi-billion dollar cloud and investment agreements with Amazon and Google. Earlier, in September 2025, it completed Series F with a valuation of $1.83 trillion. This valuation surge continues its "safety alignment + enterprise adoption" strategy.
On the capital front, Anthropic raised large-scale funds through sovereign and growth funds like GIC and Coatue, while packaging Claude model capabilities into AWS, Google Cloud, and enterprise APIs. Revenue is projected to rise rapidly from an annualized $9 billion by the end of 2025 to over $30 billion, creating a high certainty return cycle through equity and cloud consumption binding for investors.
Similar to OpenAI's valuation trajectory from hundreds of billions in 2024 to over $800 billion in 2026, Anthropic is in the mid-expansion phase of foundational model companies transitioning from "technology catch-up" to "revenue validation + valuation leadership," approaching or exceeding $1 trillion in secondary market trading.
Essentially, this represents capital concentration: the enormous computational power threshold for AI training and inference has created a winner-takes-all landscape among a few leading model companies, with capital highly concentrated from dispersed startup projects to leading enterprises like Anthropic that have substantial revenue and cloud partner endorsements, restructuring the AI industry from "multi-model competition" to an "oligopoly foundational layer" pricing and resource allocation mechanism.