Anthropic is accelerating in the global race for artificial intelligence, with sights now set on a valuation of close to $1 trillion. According to reports from the Financial Times and Bloomberg, the company founded by Dario Amodei is working on a capital raise of up to $50 billion, aimed primarily at scaling up its compute capacity. If confirmed, the deal would rank as one of the largest private funding rounds ever seen in the tech sector, and would push Anthropic past OpenAI in terms of valuation.
Anthropic’s growth is coming at a moment when the generative AI market has shifted into a competition over infrastructure. Building advanced models is no longer enough: the real battle is for chips, data centers and the raw computing power needed to train and serve next-generation systems.
Anthropic and the AI supercomputer race
The fundraise’s main objective would be to expand Anthropic’s technological infrastructure. The company already runs strategic partnerships with giants like Amazon Web Services and Google Cloud, both of which have poured billions into the group in recent months.
According to reports circulating in the United States, Google has already invested around $10 billion with the option to commit further, while Amazon has put in roughly $5 billion. Investors said to be eyeing the new round include funds such as Dragoneer, General Catalyst and Lightspeed Venture Partners.
In parallel, Anthropic has expanded its collaboration with SpaceX. Elon Musk’s aerospace company has announced an agreement that will give the AI startup access to Colossus 1, a massive supercomputer dedicated to artificial intelligence. SpaceX said Anthropic will use the new computing capacity to power services for Claude Pro and Claude Max users.
Surging revenue and an IPO on the table
What’s really driving investor appetite is the underlying business growth. Anthropic is reported to have seen its annualized revenue surge from around $9 billion at the end of 2025 to over $30 billion in the early months of 2026, with estimates pointing to a possible run rate close to $45 billion in the near term.
Valuation has climbed in lockstep: from $183 billion at the Series F round in 2025, to $380 billion in February 2026. On the secondary market, some pre-IPO transactions have implied valuations above the trillion-dollar mark.
That backdrop has fueled speculation about a possible stock market listing by year-end. An eventual IPO would land at a delicate moment for the sector, with OpenAI grappling with both elevated growth expectations and ongoing legal disputes — including the lawsuit filed by Elon Musk against the company and its management.
The risks behind the record valuation
Despite the market’s enthusiasm, several analysts urge caution. One of the key concerns is Anthropic’s dependence on a few large cloud providers. A significant share of its revenue is reportedly tied to its relationships with Amazon and Google, while the company has already signed multi-year commitments worth tens of billions of dollars in infrastructure services.
There’s also the question of corporate structure. Anthropic operates as a Public Benefit Corporation (PBC), a model that places significant weight on broader social objectives and AI safety, even at the expense of maximizing shareholder returns.
Finally, there’s the issue of valuation sustainability. At the levels the market is pricing in, Anthropic would trade at multiples far above the average traditional software company. To justify those numbers, it would need to maintain extremely high growth rates for several years, in a sector that is becoming ever more competitive and that comes with enormous operating costs.
Editor’s note
This article was originally published in Italian on money.it by Giorgia Paccione on May 08, 2026 as «Così Anthropic potrebbe raggiungere una valutazione di $1.000 miliardi (e superare OpenAI)». It has been translated and adapted for an international audience by the Money.it International desk.
