Anthropic has locked in terms for a $30 billion fundraising that could value the artificial intelligence company near $900 billion, according to people familiar with the matter. The deal could wrap up as early as this month, they said, in what would be one of the biggest private financings ever attempted in the sector.
The new round would extend a blistering run for Anthropic, which disclosed in February that its annualized revenue had climbed to $14 billion and said at the time that it had secured $30 billion in Series G funding at a $380 billion post-money valuation. Its annualized revenue is now on track to top $45 billion soon, underscoring how quickly the company has moved from a fast-growing challenger to one of the most closely watched names in AI.
Dragoneer Investment Group, Greenoaks Capital, Sequoia Capital and Altimeter Capital are lined up to co-lead the new round, with each of the four investors putting in at least $2 billion, the people said. If the financing closes at the rumored price, Anthropic would be valued above OpenAI, which hit an $852 billion valuation after a March raise.
The race matters because investors are no longer betting only on model quality. They are also watching revenue, enterprise adoption, access to compute and the hard infrastructure needed to keep training and serving large language models. OpenAI has around 900 million weekly users, according to The, but Anthropic has been pressing its case with corporate customers and developers.
That push was on display again on Thursday, when Anthropic and PwC said they are deepening their partnership. PwC will begin by deploying Claude Code and Cowork with its U.S. teams, set up a joint Center of Excellence with Anthropic and train 30,000 professionals for certification. Anthropic CEO Dario Amodei said the potential reach extended to “hundreds of thousands” of PwC employees, signaling how the company is trying to move deeper into everyday business use.
Anthropic’s growth is also being powered by the expanding cost of the AI race. Last month, Amazon said Anthropic had agreed to spend north of $100 billion over a decade on AWS technology, a deal that secures up to 5 gigawatts of Trainium chip power. Amazon also said it was making an immediate $5 billion investment and could add another $20 billion if certain milestones are hit. For Anthropic, access to compute is now as strategically important as customer demand.
The company is also widening its footprint beyond commercial work. reported on Thursday that Anthropic and the Gates Foundation have committed $200 million over four years to support AI-driven public goods in health and education. Elizabeth Kelly, who heads Anthropic’s beneficial deployments team, is part of that broader effort to make the company’s technology feel useful outside the boardroom.
There is, however, a sharp tension running through Anthropic’s rise: the same company chasing hundreds of thousands of enterprise users is also leaning on a web of huge capital commitments, cloud promises and infrastructure deals that show how expensive AI leadership has become. The new financing would not just be another milestone. It would be a signal that the market is still willing to pay a premium for scale, speed and a credible path to business adoption.
Anthropic’s next test is whether that valuation can keep pace with the obligations now stacked around it — to investors, to cloud partners and to the customers expected to make the numbers hold.
