Anthropic Seeks Up to $950 Billion Valuation, Potentially Eclipsing OpenAI
According to a report by the New York Times, AI company Anthropic is in talks with investors about a new funding round worth between $30 and $50 billion. The targeted valuation of up to $950 billion would, for the first time, place the company higher than current market leader OpenAI.
The New York Times reports, citing people involved in the discussions, that the negotiations could still fall through. Should the funding be completed, however, Anthropic’s valuation would rise to 2.5 times the $380 billion figure it reached just three months ago. OpenAI was most recently valued at $852 billion in March 2026.
“I hope the 80-fold growth doesn’t continue, because that’s just crazy and too hard to manage. I’m hoping for somewhat more normal numbers.”
This is how the New York Times quotes Anthropic CEO Dario Amodei at the company’s developer conference in San Francisco. Amodei had previously stated there that Anthropic had grown to an annualized revenue of $30 billion and could grow 80-fold this year.
Anthropic may have already overtaken OpenAI in revenue
Extrapolating Amodei’s growth forecast against the most recently known annualized revenue of $30 billion, there is strong indication that Anthropic has already significantly surpassed OpenAI in annualized revenue. With an ARR of around $80 billion, Anthropic would be far ahead of OpenAI, which most recently reported monthly revenue of around $2 billion, or approximately $24 billion annualized.
The key difference lies in strategic focus: while OpenAI relies heavily on its mass-market product ChatGPT, Anthropic consistently targets enterprise customers and API usage. More than 1,000 large customers each spend over one million dollars per year on Anthropic’s AI services.
Backed by major investors
Anthropic has recently received billion-dollar investment commitments from two of the world’s largest technology companies. Google pledged investments of up to $40 billion in April 2026, and Amazon up to $25 billion. Claude is also the only frontier AI model available on all three major cloud platforms: Amazon Web Services, Google Cloud, and Microsoft Azure.
The new AI model Mythos recently attracted significant attention; according to Anthropic, it is so capable at identifying security vulnerabilities in software that it could represent a kind of watershed moment in cybersecurity. The model was not released publicly, which has triggered reactions worldwide.
The model temporarily strained Anthropic’s relationship with the US government: the Department of Defense labeled the company a security risk, prompting Anthropic to file a lawsuit. The situation now appears to be easing. The New York Times reports that Amodei held talks at the White House in April, which both sides described as “productive.”
