Anthropic Tops OpenAI at $900B Valuation

Anthropic has overtaken OpenAI to become the world’s most valuable artificial intelligence startup. The New York Times reported on May 28 that the Claude creator is being valued at approximately $900 billion. According to Bloomberg, Anthropic is finalizing a new funding round exceeding $30 billion at a valuation above $900 billion, surpassing the $852 billion valuation OpenAI achieved in March following a $122 billion raise.

While Anthropic has not released a formal announcement, major news outlets reporting the round as nearly finalized signal that the mantle of the most valuable AI startup has officially changed hands.

From $380 Billion to $900 Billion in Four Months

The velocity of the valuation growth is unprecedented. Anthropic raised $30 billion at a $380 billion valuation in February; just four months later, its valuation has more than doubled. The startup’s rapid revenue expansion has led to consecutive quarterly repricings.

TechCrunch reported in late April that Anthropic had received several unsolicited offers near a $900 billion valuation, including a potential $50 billion funding round, with a board decision scheduled for May. Prominent growth investors, including Sequoia Capital, are reportedly participating.

This capital influx is underpinned by surging revenue. Reports indicate that Anthropic’s annual recurring revenue has jumped significantly from the $9 billion recorded six months ago, propelled by accelerating demand for Claude across enterprise and software engineering sectors.

The Implications of Overtaking OpenAI

This valuation shift represents more than just a numerical milestone. OpenAI was valued at $852 billion in March after raising $122 billion; less than three months later, Anthropic has surpassed it. For the first time since the generative AI boom began, the consensus narrative of OpenAI as the undisputed industry leader has been challenged.

This shift is primarily driven by product momentum. Days earlier, Anthropic released Claude Opus 4.8, solidifying its position in the coding and autonomous agent markets as enterprise adoption continues to accelerate. The $900 billion valuation reflects investor confidence in this sustained product leadership.

Potential October IPO on the Horizon

Following this funding round, Anthropic is reportedly eyeing the public markets. Bloomberg reported that the startup could launch an initial public offering as early as October. Listing at a $900 billion valuation would represent one of the largest public debuts in technology history.

However, key uncertainties remain. The current funding round is reported as near closure, and a formal confirmation from Anthropic is required to finalize the valuation. Furthermore, with its valuation increasing nearly fivefold in a single year, concerns regarding overvaluation persist. Nevertheless, as of late May, Anthropic has positioned itself at the apex of the global AI startup landscape.