The eye-popping numbers in Anthropic's latest funding round

Anthropic, the maker of artificial intelligence model Claude, closed a record-setting $30 billion funding round, the start-up announced Thursday.

The raise, the largest in private tech history, lifts its valuation to roughly $380 billion, underscoring the intense capital flow into generative AI at a time of heightened competition and market anxiety.

The Series G round was led by Singapore’s sovereign wealth fund GIC and Coatue Management, with participation from major institutional backers including D. E. Shaw Ventures, ICONIQ, MGX and continued commitments from Microsoft $MSFT and Nvidia $NVDA, sources familiar with the matter told the Financial Times.

Anthropic said the fresh capital will accelerate its data-centre expansion, product engineering and global sales efforts as it prepares for an initial public offering possibly later this year. The company has hired law firm Wilson Sonsini to begin IPO preparations, signaling confidence in its long-term growth trajectory, the FT reported.

The start-up also reported $14 billion in annualized revenue (an estimate of full-year sales based on recent company data), up 1,300% from 2025, and growing over tenfold annually in each of the past three years. Enterprise customers — particularly for its AI coding assistant Claude Code — drove roughly 80% of the $14 billion in run-rate revenue. The firm claims more than 500 corporate clients spending over $1 million a year each on its suite of products.

The surge has been fueled in part by the release of Claude Opus 4.6, a model capable of processing up to 1 million tokens of context in a single session — enough to ingest codebases, legal archives or corporate internal knowledge without slowing down. That means fewer hand-offs between humans and machine, and longer chains of automated reasoning. It also sharpens Anthropic’s pitch to enterprise clients who want AI embedded deep inside their workflows rather than hovering at the chatbot layer.

The Opus 4.6 feature has been widely framed as a competitive shot in the arms race with OpenAI and other start-up labs. But the implications stretch beyond leaderboard rankings rights. If models can absorb entire repositories of institutional memory at once, they begin to encroach not just on junior coding tasks but on higher-margin, knowledge-intensive functions — the core offering of much of the software industry.

That encroachment is already showing up as market jitters, however. As generative AI firms roll out tools capable of automating analytics, legal drafting and internal productivity systems, investors have started to question the durability of traditional software revenue models built on per-seat licensing and incremental upgrades. Recent sell-offs in segments of enterprise and analytics stocks suggest that Wall Street is attempting to price in a future where AI both deepens its enterprise customers, while also hurting some revenue models.

Yet the private capital flowing into the sector has reached near-stratospheric levels, with reports that OpenAI is seeking a valuation north of $800 billion in a forthcoming round. For now, Anthropic’s latest raise reinforces a prevailing conviction on Wall Street and in private markets: that generative AI will be a central driver of enterprise IT budgets for years to come.