On February 12 this year, Anthropic officially announced the completion of a $30 billion Series G funding round, at a post-money valuation of $380 billion. It is the largest venture capital deal of 2026 and the second-largest ever—second only to OpenAI's $40 billion round last year.
Investment Lineup
Lead investors: GIC (Singapore sovereign wealth fund), Coatue
Co-lead investors: D.E. Shaw Ventures, Dragoneer, Founders Fund, Iconiq Capital, MGX
Follow-on investors: Sequoia, Accel, BlackRock, Blackstone, Temasek, Goldman Sachs, JPMorgan Chase, Fidelity, Microsoft, NVIDIA
Key Numbers
| Metric | Value |
|---|---|
| Annualized Revenue | $14B |
| Claude Code Annualized Revenue | $2.5B (doubled year-to-date) |
| Annualized Growth Rate (Past 3 Years) | 10x+ |
Funding cadence: Series E $3.5B (valuation $61.5B) → Series F $13B (valuation $183B) → Series G $30B (valuation $380B). Valuation doubled each round.
Where the Money Goes
Officially: Deepening research, product innovation, infrastructure expansion, globalization.
In plain terms: Buy GPUs, train stronger models, capture more market share.
Claude Code alone generates $2.5B in annualized revenue and is accelerating. This shows Anthropic's commercialization is no longer reliant solely on API calls—developer tools have become an independent revenue pillar.
Is the Valuation Reasonable?
$380B valuation / $14B annualized revenue ≈ 27x PS.
Expensive by traditional software standards, but given the 10x+ annual growth rate, the market is betting on the future. If current growth holds for one year, revenue could reach $50-100B, turning 27x PS into 4-8x—suddenly not expensive.
The key variable remains: how long can the growth rate be sustained?
Source: CocoLoop, Crunchbase News