Anthropic has received multiple preemptive offers to raise between $40 billion and $50 billion in fresh capital at a valuation in the $850 billion to $900 billion range, according to TechCrunch and Bloomberg reporting from 29 April. At $900 billion, the company would surpass OpenAI — which closed a $122 billion round at an $852 billion post-money valuation in February 2026 — to become the world's most valuable AI startup. At least one institutional investor is prepared to commit as much as $5 billion to the round. A board decision on whether to proceed is expected in May 2026, and sources describe this as potentially Anthropic's final round of private fundraising before a potential IPO.
The revenue growth driving investor interest is extraordinary. Anthropic's annual revenue run rate surpassed $30 billion earlier in April, up from roughly $9 billion at the end of 2025 — more than tripling in four months. Current estimates put the figure closer to $40 billion. The growth is powered primarily by Claude Code, which became one of the fastest-growing developer tools in history, and the Opus 4.7 model release on 16 April, which delivered double-digit improvements across coding benchmarks and scored 70 per cent on CursorBench versus 58 per cent for Opus 4.6.
For context engineers, the valuation leap from $380 billion in February to $900 billion in April — a 137 per cent increase in two months — reflects how rapidly the market values companies that developers actually use daily. The fact that Anthropic's revenue tripled from $9 billion to approaching $40 billion in the same period tells a clear story: Claude Code adoption is driving enterprise revenue at a pace that has made Anthropic the most sought-after investment in the AI industry. The round also positions Anthropic for an IPO, which would be the largest tech IPO in history if it proceeds at anything close to these valuations.
