The $900 Billion Giant: How Anthropic Got So Big, So Fast

Anthropic has surpassed OpenAI as the most valuable artificial intelligence company, reaching a $900 billion valuation after a $65 billion fund-raising round. The company’s rise was fueled by its Claude models and the Claude Code programming tool, which drove a surge in adoption by automating software development. The valuation shift reflects the rapidly evolving competitive landscape in the AI industry.

Newsletter DealBook The artificial intelligence giant was just valued at $900 billion, surpassing OpenAI. Here are the numbers behind its rise — and headwinds it faces. Andrew here. Anthropic is now more valuable than OpenAI, something Silicon Valley wouldn’t have expected a year ago. We go behind the numbers — and outline the risks the new leader in A.I. faces. Also: Lauren Hirsch has a scoop on deal talks between iHeartMedia and SiriusXM, which were put on pause. And Dell’s stock is flying, raising new questions about President Trump’s investments in the computer giant. The numbers behind Anthropic’s rise A year ago, the biggest and buzziest artificial intelligence start-up around was undoubtedly OpenAI. That’s no longer the case. Anthropic has taken that crown with its $65 billion fund-raising round https://www.nytimes.com/2026/05/28/technology/anthropic-tops-openai-valuation.html . How the company went from also-ran to 900-pound gorilla is a reflection of the current state of the A.I. race, and it raises questions about what comes next. Where things stand: Anthropic is valued at $900 billion, while OpenAI was last valued at $730 billion, not including the $122 billion it had just raised. Behind Anthropic’s ascent: The company’s Claude models were consistently highly regarded. But by November, Anthropic’s Claude Code programming tool had become exponentially better at automating software development, driving a surge in adoption. Related Content Advertisement SKIP ADVERTISEMENT after-bottom