Anthropic is in talks with investors about raising cash at a valuation of $900 billion, CNBC has confirmed.

A funding at that level would push Anthropic past OpenAI, which was most recently valued at just over $850 billion. This also touches on aspects of earnings report.

Anthropic mentioned earlier this month that its business has reached $30 billion in annualized revenue.

Anthropic has been chasing OpenAI since the launch of ChatGPT in late 2022. It appears to have finally caught up.

The artificial intelligence startup, founded five years ago by former OpenAI execs, is in talks with investors to raise cash at a $900 billion valuation, according to a person familiar with the matter. No term sheet has been signed and talks are ongoing, noted the person who asked not to be named because the discussions are private.

An Anthropic spokesperson declined to comment. Bloomberg was first to report on the potential financing.

OpenAI was valued at $852 billion in late March after closing a record-breaking $122 billion funding round. Large contributions came from strategic investors, including up to $50 billion from Amazon, $30 billion from Nvidia and $30 billion from SoftBank.

Anthropic, meanwhile, was valued at $380 billion as of February.

As it’s been racing to keep pace with OpenAI in recent years, Anthropic has become best known for developing a family of AI models called Claude. Furthermore, experts in bull market note the continued relevance.

The enterprise released its latest model, Claude Opus 4.7, earlier this month, which it described as its best generally available offering. But just days prior, Anthropic captivated Wall Street by unveiling Claude Mythos Preview, a model with advanced cybersecurity capabilities that’s only available to a select group of companies.

Mythos has sparked a number of high-profile meetings between members of the Trump administration, tech CEOs and bank executives in recent weeks, and the model is part of the reason Anthropic is seeking fresh capital. The firm needs to be able to purchase the compute that it needs To run Mythos, commented the source familiar with its plans.

Compute has been top of mind for Anthropic in recent weeks.

The business struck a deal with Amazon earlier this month that was largely centered around AI infrastructure. Amazon agreed to invest up to $25 billion in Anthropic, and Anthropic secured up to 5 gigawatts of compute capacity for training and deploying its Claude AI models.

Anthropic also secured 5 gigawatts worth of computing capacity as part of an announcement with Google and Broadcom that will start to come online next year. Google noted earlier this month that it also plans to invest up to $40 billion in Anthropic.

The company’s momentum has been compounding over the last year, especially since it released its popular AI coding assistant, Claude Code. The firm noted earlier this month that it has reached $30 billion in annualized revenue. It generated roughly $10 billion in revenue last year.

— CNBC’s Lora Kolodny contributed to this report.

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