Anthropic eyes May funding round that could value it at $900 billion, above OpenAI

Anthropic could receive a new valuation of $900 billion as soon as May, above OpenAI's current valuation of $852 billion. If the round closes on these terms, the company will sharply strengthen its position in the race among generative AI leaders.

Why the valuation is rising

In February, Anthropic was valued at $350 billion. Since then the startup has raised about $30 billion in capital, and it is now preparing its next step. Against that backdrop, talk of a $900 billion mark looks like more than just another eye-catching number: it reflects how fast investors are raising their bets on the biggest AI model developers. For the private market this is a very aggressive pace: within a few months the valuation could grow by more than two and a half times.

It is also worth noting that this is not only about money already raised. A valuation in rounds like this shows how much the market is willing to pay for future growth, technological leadership and the chance to take a dominant place in the new platform wave. In Anthropic's case, judging by these figures, investors believe the company can keep scaling and remain among the key players despite very dense competition.

What the May round means

A decision on the new round is expected in May. If the terms do not change, Anthropic will get a $900 billion valuation and formally overtake OpenAI, whose current valuation is reported at $852 billion. For the industry, the size of the round matters, but so does the signal: the market is still ready to put tens of billions into a handful of leading teams, betting on their models, products and infrastructure.

• Anthropic's February valuation: $350 billion
• Additional capital raised since February: about $30 billion
• Potential new valuation in May: $900 billion
• Benchmark for comparison: OpenAI at $852 billion

The gap between $900 billion and $852 billion no longer looks gigantic at this level, but symbolically it is very noticeable. The private market loves a hierarchy: whoever is valued higher is seen as the stronger contender for leadership in the next cycle. So the possibility of overtaking OpenAI will be discussed as much as the amount of new capital. For Anthropic, it is a way to cement its image as a top-tier company rather than just one of several notable competitors.

The race with OpenAI

The comparison with OpenAI is especially telling. Not long ago, even asking whether Anthropic could overtake the chief symbol of the AI boom on valuation would have seemed too bold. Now it is no longer an exotic scenario but a working hypothesis for the upcoming round. It shows how far the market has narrowed to a group of favorites: capital is concentrating not in AI in general, but in a few companies seen as future infrastructure monopolies or, at minimum, must-have platforms.

At the same time, this dynamic points to overheated expectations. A $900 billion valuation is not only a compliment to Anthropic but also a very high bar for further growth. After numbers like these, the company will be expected to deliver not just strong models but the ability to turn research into products, revenue and a durable advantage. Otherwise the next financing round, or a possible move to the public market, will no longer look so unconditional.

What this means

If the May round really goes through on the expected terms, Anthropic will establish itself not merely as a large player in the AI market but as a company investors are willing to rank above OpenAI on private valuation. For the industry, it is a signal that the race among the leaders is entering a new phase: money keeps flowing to the top of the market, and bets on the few strongest players are getting even bigger.