Anthropic Engages in Talks for $30 Billion Funding Round, with Valuation Reaching $900 Billion

According to reports from Bloomberg, AI unicorn Anthropic is in early-stage fundraising discussions with multiple investors, planning to raise at least $30 billion with a pre-investment valuation discussed above $90 billion, setting a record high for the company's history. Insiders revealed that the deal could be finalized by the end of May, but the term sheet has not yet been signed, and specific details remain subject to change.

Just in February this year, Anthropic had completed a $30 billion round of financing, with a post-investment valuation of $38 billion at that time. In just a few months, the valuation expectations have more than doubled, with the core support behind it being the explosive growth in revenue. The company's annualized revenue is expected to soon break through $45 billion, a fivefold increase from $9 billion at the end of 2024, with a year-on-year growth rate of about 80 times. If this round of financing is successfully completed, Anthropic's valuation will officially surpass that of OpenAI, which had a post-investment valuation of $85.2 billion after completing its financing in March.

Looking at the use of funds, this round of financing will focus on building computational infrastructure, including the purchase of NVIDIA GPUs, TPUs, and cloud data center resources, and securing long-term computational power agreements with platforms such as Google Cloud and AWS to cope with the continuous tight supply of high-end GPUs.

Institutions such as Dragoneer and General Catalyst have clearly expressed their intent to invest, and Google is also expected to add about $10 billion in investment. The private market's optimism towards Anthropic is particularly prominent, with the Pre-IPO implied valuation reaching $1.2 trillion, significantly higher than the market's pricing expectations for OpenAI.

This round of financing signifies that the commercialization of enterprise-level AI has moved from an early money-burning phase to a scaled revenue phase, where safety and controllability along with long-text processing capabilities are becoming the core barriers for top players, and the duopoly structure in the industry is continuously solidifying.

The market needs to pay close attention to the signing progress of this term sheet, the final investment scale of strategic parties such as Google, and the horizontal comparison between Anthropic's IPO preparations within the year and the commercialization growth rate of OpenAI. This will continue to drive the evolution of the overall valuation logic of the AI sector.