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Anthropic's $900B valuation: $40B revenue, $175B in commitments, and negative unit economics

Business · 14 min read · April 30, 2026

Anthropic's $900B valuation: $40B revenue, $175B in commitments, and negative unit economics

The Claude builder turned down $800B in April, now fields $900B offers on $40B revenue run rate—but burns $6B-$12B annually and has locked $100B into AWS spend.

  • Anthropic received multiple offers to raise $50B at $850B-$900B valuation, surpassing OpenAI's $852B.
  • Revenue jumped from $9B annualized at end of 2025 to $30B by April 2026, now reportedly near $40B run rate.

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