🤖 Anthropic – founded in 2021 by former OpenAI executives Dario and Daniela Amodei – makes the Claude family of AI models and has rapidly become OpenAI’s main rival in the enterprise market.

💰 In February 2026, Anthropic closed a $30 billion Series G round at a $380 billion valuation. It is now pursuing a new raise of around $50 billion at a target valuation of $900 billion.

🏆 At $900 billion, Anthropic would surpass OpenAI, which closed a $122 billion round at an $852 billion valuation in late March 2026.

📈 Anthropic’s annualized revenue hit $30 billion in early 2026 – up from $9 billion at end of 2025, a roughly 1,400% year-over-year increase. Real run rate may already be closer to $40 billion.

🔥 Investor demand is running well ahead of the planned raise – at least one institution willing to write a $5 billion check has been unable to get a meeting with Anthropic’s CFO.

🧠 A key driver of the fundraise: Anthropic recently unveiled Claude Mythos Preview, a model with advanced cybersecurity capabilities available only to select companies – running it at scale requires massive compute investment.

☁️ Google has pledged up to $40 billion in Anthropic, and the company has secured 5 gigawatts of computing capacity through a deal with Google and Broadcom.

🚨 One cloud on the horizon: the Pentagon labeled Anthropic a supply chain risk and ordered contractors to stop doing business with it – litigation is pending, but investors seem unbothered.

📅 This round is expected to be Anthropic’s last before an IPO, potentially as early as October 2026.

Anthropic is racing from $380 billion to nearly $1 trillion in valuation in under six months – and the money is chasing them, not the other way around.