Is Anthropic Really Worth $900 Billion?

What Anthropic has actually announced

Anthropic’s company-announced benchmark in the available sources is $380B post-money. On Feb. 12, 2026, Anthropic said it raised $30B in Series G funding led by GIC and Coatue, valuing the company at $380B post-money .

A later round at $850B–$900B would be far above that announced valuation, but the available sources describe the higher range as a potential or preemptive financing discussion rather than a completed outcome .

How OpenAI compares

OpenAI’s comparison point is firmer because it comes from OpenAI’s own announcement. On Mar. 31, 2026, OpenAI said it closed its latest funding round with $122B in committed capital at a $852B post-money valuation .

That makes the status comparison straightforward:

The tempting headline is that Anthropic has overtaken OpenAI. The careful version is narrower: Anthropic could overtake OpenAI on headline private funding valuation if a new round closes above OpenAI’s $852B valuation . A $900B round would sit above OpenAI’s announced figure, while an $850B round would sit slightly below it .

Why secondary-market numbers are different

Some larger Anthropic valuation claims come from secondary-market or implied trading data, not primary company fundraising announcements.

Business Insider reported that Anthropic’s valuation hovered around $1T on Forge Global, a private marketplace . OfficeChai reported that on Ventuals, a platform for speculating on private-company valuations using perpetual futures contracts, Anthropic’s implied valuation briefly reached $846.02B, compared with $838.95B for OpenAI .

Those figures may show demand for exposure to private AI companies, but they should not be treated as equivalent to company-announced funding rounds. Forge and Ventuals figures are marketplace or futures-implied marks, while Anthropic’s Series G and OpenAI’s latest financing are announced funding valuations .

The accurate way to say it

The strongest wording is conditional:

• Anthropic is reportedly considering or fielding offers for a raise of around $50B at an $850B–$900B valuation .
• Anthropic could surpass OpenAI’s announced $852B valuation if a new round closes above that level .
• Anthropic’s confirmed company-announced valuation in these sources remains $380B from its February 2026 Series G .
• The claim “Anthropic is worth $900B” is too strong unless and until a round is completed and announced at that valuation .

Bottom line

The evidence supports a conditional story: Anthropic is reportedly being priced by prospective investors at as much as $900B, which could rival or exceed OpenAI if a new round closes at those terms . It does not yet support the stronger claim that Anthropic is definitively worth $900B.

For now, OpenAI has the clearer verified comparison point: a closed, company-announced $122B funding round at a $852B post-money valuation . Anthropic may be negotiating a valuation that could match or beat that figure, but its confirmed company-announced benchmark remains $380B .