Is the AI leader changing hands? Rumor has it that Anthropic might raise funds again with a $900 billion valuation, surpassing OpenAI's valuation.

Cladue developer Anthropic is expected to raise funds at a valuation of $900 billion, surpassing OpenAI to become the leader in AI. Benefiting from a surge in revenue, the company is accelerating its IPO plans, with a listing possibly as early as October this year.

Anthropic valuation may reach $900 billion, challenging OpenAI

Claude developer Anthropic’s valuation could surpass that of ChatGPT developer OpenAI? According to TechCrunch, sources reveal that Anthropic has received multiple preemptive investment offers, with investors proposing a valuation between $850 billion and $900 billion, and raising an additional $40 billion to $50 billion.

Anthropic is expected to make a decision at the board meeting in May 2026. If the deal goes through, its valuation will double and surpass the current OpenAI. Previously, OpenAI disclosed in a press release that it had completed a $122 billion funding round, with its valuation rising to $852 billion.

Business Insider and Bloomberg recently reported that some venture capitalists have offered $800 billion for Anthropic. In February this year, Anthropic completed financing led by Singapore government investment firms and Cotu Capital, with a valuation of $380 billion.

Meanwhile, on the private secondary market Caplight, Anthropic’s implied valuation has risen to $688 billion, a 75% increase in three months.

Image source: Flickr/Getty Images/Kimberly White Photography Anthropic CEO Dario Amodei participating in an event hosted by TechCrunch in 2023

Anthropic revenue surges, accelerating IPO plans

Anthropic’s annual recurring revenue (ARR) has surpassed $30 billion, a significant increase from $9 billion at the end of 2025, now approaching $40 billion. Currently, over 1,000 enterprise clients spend more than $1 million annually, with data doubling in two months. The growth is mainly driven by Claude Code and Cowork platforms.

Bloomberg previously reported that the strong revenue generated by Claude-related products has prompted Anthropic to prepare for its first public offering, with a potential listing as early as October this year. Meanwhile, OpenAI also revealed monthly revenue reaching $2 billion, with over 40% coming from enterprise clients, and continues to expand its market share through the GPT-5.4 model.

OpenAI recently launched the GPT-5.5 model, focusing on scientific research and coding, and has recently shut down the money-losing AI-generated video app Sora. However, the new GPT Image 2 model has reignited public interest due to its more detailed image generation and greater editability.

• Related article: How to use GPT Images 2.0? Practical tests on beef noodle menus, magazine covers, and multilingual science explanations

Mythos model draws attention, cybersecurity regulation becomes a focus

Anthropic also has a mysterious trump card: the “Mythos model,” which has the ability to identify software vulnerabilities. To avoid cybersecurity risks, it is currently not open to the public and is only available to select vendors and organizations.

However, on April 21, Bloomberg reported that unauthorized organizations had illegally obtained and used the Mythos model. The White House and Pentagon have launched an urgent inter-agency investigation into the leak, focusing on the increasingly fragile AI software supply chain.

Meanwhile, the U.S. White House and Anthropic maintain a nominal blacklist relationship. Sources within the intelligence community reveal that after Mythos was listed on the NSA’s internal security blacklist, the NSA still maintains access rights to the tool.

• Related article: The mysterious AI model Mythos leaks! Illegal organizations have deployed copies—has Anthropic’s security defenses been breached?

As AI competition heats up, the rivalry between Anthropic and OpenAI has extended from mere technological prowess to the deep waters of national security and commercial applications.

In the future, who can truly secure the throne as AI leader may no longer depend solely on valuation size or the extreme computational capabilities of models; how to balance advancing cutting-edge technology with building trust among enterprises, government regulation, and fragile software supply chains will be the ultimate key to winning this AI technological race.