Anthropic weighs $50B raise at $900B valuation in potential final private round before IPO

Anthropic is considering a $50 billion funding round that would value the company at $850–$900 billion, which would be the largest single AI fundraising in history and more than double its February 2026 valuation of $380 billion. The round would surpass rival OpenAI's $852 billion post-money valuation from its $122 billion raise in March 2026. Anthropic's revenue run rate has surpassed $30 billion officially, with some sources saying it's closer to $40 billion. The company has asked investors to submit allocation requests within 48 hours, with a board decision expected in May 2026 and the round potentially closing within two weeks. This is likely Anthropic's final private fundraise before a potential IPO as early as October 2026, with early discussions reportedly underway with Goldman Sachs, JPMorgan, and Morgan Stanley. Amazon committed up to $25 billion and 5GW of compute; Google committed up to $40 billion and 5GW of compute. Notably, Anthropic's shares were trading at an implied $1 trillion valuation on secondary markets earlier in April 2026.