Anthropic raises $30B at $900B

Anthropic was reported on May 12 to be in early talks to raise at least $30 billion in new financing at a valuation of more than $900 billion, according to Bloomberg, which cited people familiar with the matter. The proposed round would be Anthropic’s largest yet if completed. Bloomberg said the valuation discussed excludes the new capital and that no term sheet had been signed as of its report. Anthropic has not published a statement confirming the talks. The size of the reported round drew attention because Anthropic closed a $30 billion Series G only three months earlier, on Feb. 12, at a $380 billion post-money valuation, according to the company. That earlier financing was led by GIC and Coatue, with participation from investors including D. E. Shaw Ventures, Dragoneer, Founders Fund, ICONIQ and MGX, Anthropic said at the time. (bloomberg.com) ### Why does a safety-focused AI company keep using the word “constitution”? Anthropic said on Jan. 22 that it had published a new constitution for Claude, its flagship AI model, describing it as a document that directly shapes the model’s behavior during training. The company said the constitution is “a crucial part” of its training process and sets out how Claude should be helpful while remaining safe, ethical and compliant with guidelines. (anthropic.com) Anthropic also released the document under a Creative Commons CC0 license, saying others could use it freely. The company’s use of “Constitutional AI” predates this year. Anthropic has long described the method as training models against a written set of principles rather than relying only on human feedback, and its Jan. 22 post said the constitution now plays “an even more central role” in training than it did in earlier Claude systems. (anthropic.com) ### What numbers are investors likely looking at? Anthropic said on April 6 that its revenue run rate had topped $30 billion, up from $9 billion at the end of 2025, according to Bloomberg. The same report said more than 1,000 business customers were spending over $1 million annually with the company, more than double the number disclosed in February. (anthropic.com) Anthropic’s own Feb. 12 funding announcement gave a lower snapshot from earlier in the year. The company said its run-rate revenue was $14 billion at that point, that more than 500 customers were spending over $1 million annually, and that Claude Code alone had reached more than $2.5 billion in run-rate revenue. Anthropic also said eight of the Fortune 10 were customers. (bloomberg.com) ### What is the company telling investors about growth? Krishna Rao, Anthropic’s chief financial officer, said in the Feb. 12 announcement that “Claude is increasingly becoming critical to how businesses work.” Anthropic said the new money from that round would fund frontier research, product development and infrastructure expansion tied to enterprise AI and coding. (anthropic.com) Bloomberg’s May 12 report did not describe Anthropic’s pitch deck in detail, but the timing shows investors are weighing the company’s growth against a recent jump in scale. The reported $900 billion valuation discussion came about five weeks after Bloomberg reported the company had crossed a $30 billion revenue run rate. That sequence does not prove why investors are interested, but it sets the financial backdrop for the talks. (anthropic.com) ### Is this round done, and who is in it? Bloomberg said the talks were still preliminary as of May 12. The report said the deal was not finalized, no term sheet had been signed, and one person familiar with the matter said the round could close as soon as the end of May. Bloomberg did not identify the investors in the proposed financing in the excerpt available publicly. (bloomberg.com) The most recent completed round named by Anthropic remains the Feb. 12 Series G. That financing included capital from GIC, Coatue, Microsoft and Nvidia, along with a long list of institutional investors, according to the company’s announcement. (bloomberg.com) ### What should readers watch next? May 31 is the nearest concrete date attached to the reported talks. Bloomberg said one person familiar with the matter expected the round could close by the end of May, while also saying the terms were still unsigned and subject to change. Until Anthropic files, announces, or confirms a new financing, the last official capital raise on its website remains the $30 billion Series G announced on Feb. 12. (anthropic.com) (bloomberg.com)