Anthropic nears $900 billion valuation round

Anthropic plans to finalize allocations for its latest funding round within the next 48 hours. The raise is expected to total around $50 billion, with the round set to close as early as 2 weeks from now. The target valuation is roughly $900 billion.

Demand is so strong that the final valuation could exceed $900 billion. Meanwhile, some early investors who came in before 2024 are opting to skip this round and instead plan to cash out their stakes in an IPO expected within the year.

This funding round is likely to be effectively the last private round before going public. Anthropic said this month that its annual revenue run rate had surpassed $30 billion, but sources familiar with the company's finances believe the actual figure is closer to $40 billion.

Compared to the $380 billion valuation round from February, this represents more than a doubling of the company's valuation, and could even surpass OpenAI, which recorded a post-money valuation of $852 billion earlier this year.