Anthropic has received multiple preemptive offers to raise approximately $50 billion at a valuation between $850 billion and $900 billion, per Bloomberg and TechCrunch. The company's annual revenue run rate has surged from roughly $9 billion at end of 2025 to an officially announced figure of "surpassed $30 billion," with sources saying it is closer to $40 billion—driven largely by Claude Code and enterprise agentic deployments. No term sheet has been signed; the board is expected to decide in May with a potential IPO as early as October 2026. If completed at $900 billion, the round would put Anthropic ahead of OpenAI's $852 billion post-money valuation from February.