Anthropic set to close $30 billion funding at over $900 billion valuation

Anthropic PBC is expected to finalize its latest funding round as early as next week, securing over $30 billion at a valuation exceeding $900 billion, according to Bloomberg. This would make Anthropic the world’s most valuable AI startup, surpassing rival OpenAI, which holds an $852 billion valuation from its March funding round. The round is co-led by Sequoia Capital, Dragoneer Investment Group, Altimeter Capital, and Greenoaks Capital Partners, with each firm investing approximately $2 billion. Existing investors, including Peter Thiel’s Founders Fund and General Catalyst, are also participating. The funding commitments were finalized within weeks after discussions began in May, following proposals received in late April. Anthropic reported $10.9 billion in revenue for the second quarter, doubling its previous three-month period, and is on track for its first profitable quarter. The company’s annualized run rate revenue is projected to exceed $50 billion by the end of next month, up from $4 billion in July 2023. CEO Dario Amodei noted at a recent conference that Anthropic experienced 80 times growth in annualized revenue and usage in Q1. To support expansion, the company has secured a nearly $45 billion computing deal with SpaceX and a $1.8 billion agreement with Akamai Technologies. Additional computing resources are being sourced from Alphabet Inc.’s Google, including chips and cloud services. The rapid growth follows Anthropic’s aggressive scaling strategy, driven by demand for its Claude AI models. The funding round underscores the competitive race in AI, with Anthropic positioning itself as a leader in both innovation and market valuation.