Anthropic has agreed the terms of a $30 billion fundraising round that would value the AI startup at $900 billion, according to the Financial Times. The deal is expected to close as soon as this month.
Four firms — Dragoneer, Greenoaks, Sequoia Capital, and Altimeter Capital — will jointly lead the round at a pre-money valuation of $900 billion, the Financial Times reported, citing two people familiar with the deal. The people familiar with the matter said each of the four leading investors is expected to contribute at least $2 billion.
The new valuation would surpass that of rival OpenAI, which was most recently valued at $852 billion. Anthropic is still in discussions with additional investors to fill out the remainder of the raise, and the terms could change before the deal is formally announced.
The fundraise moved at an unusually fast pace: According to the Financial Times, outreach from investors began only last month, and CFO Krishna Rao had been in talks with potential participants for just two weeks.
The deal comes three months after Anthropic raised $30 billion at a $350 billion valuation in February. On an annualized basis — a figure derived by projecting recent weekly revenue across a full year — the company is on track to exceed $45 billion, up roughly fivefold from the $9 billion pace recorded at the close of last year, the Financial Times reported. Anthropic's revenues appear to have surpassed those of OpenAI, though the two companies use different accounting methods.
Of the four co-leads, three have prior ties to OpenAI. Dragoneer put nearly $3 billion into the rival company last year, Sequoia has been an OpenAI backer since 2021, and Altimeter's Brad Gerstner has championed the company publicly, including by hosting CEO Sam Altman on his podcast. The Financial Times noted that Anthropic and Sequoia both declined to provide comment, while Dragoneer, Altimeter, and Greenoaks had not responded to media inquiries.
Big Tech companies are not expected to participate in the current round, though Anthropic has previously received tens of billions of dollars from Amazon $AMZN and Google $GOOGL. Amazon committed up to $25 billion in a compute deal with Anthropic, and Google committed up to $40 billion at a $350 billion valuation.
A large portion of Anthropic's revenue growth has been driven by its AI coding tools, including Claude Code. The company was founded in 2021 by CEO Dario Amodei and colleagues who had departed OpenAI.