Anthropic has agreed to terms on a $30 billion fundraise at a roughly $900 billion valuation, co-led by Sequoia, Dragoneer, Greenoaks, and Altimeter with each anchor writing at least $2 billion. The implied valuation eclipses OpenAI's most recent $852 billion mark and follows annualized revenue climbing from about $9 billion at the end of 2025 to more than $30 billion in April.
Why it matters
The round resets the pecking order at the frontier and gives Anthropic the balance sheet to match its compute commitments with Google and Broadcom. It also signals that private markets are still willing to fund another tripling of valuation on revenue growth alone.
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