Anthropic in talks for $30 billion round that would value it at $900 billion, potentially overtaking OpenAI

Anthropic is in negotiations for an approximately $30 billion funding round that would value the AI lab at $900 billion and is expected to close this month, according to reporting. If completed, the valuation would surpass OpenAI’s reported $852 billion, marking a notable shift in headline market rankings for leading AI firms. The proposed financing is reported to be led by Dragoneer, Greenoaks, Sequoia Capital and Altimeter Capital, with each committing at least $2 billion. The round would cap a rapid run-up in Anthropic’s market value, following reported valuations of $183 billion last fall and $350 billion in January.

Three of the four lead investors reportedly also hold stakes in OpenAI, creating overlapping investor exposure across major AI companies. That overlap, alongside the deal’s sheer scale, highlights how a single large round could reshape investor narratives and competitive positioning across the sector. Major cloud partners that previously invested in Anthropic — Amazon and Google — are not expected to take part in this latest financing, removing two earlier strategic backers from the new round. Observers caution the lead in headline valuations may prove transient, because the firms’ longer — term rankings will depend on consumption patterns and pricing trends.