Talks about the new round are in early stages with no offers accepted yet, first reported by Bloomberg.

No term sheet has been signed, and discussions are ongoing with investors who requested anonymity.

The funding drive aligns with strong demand for Anthropic’s AI software and potential plans for an IPO later this year.

Anthropic is reportedly lining up a new funding round that could push its valuation above $900 billion, aiming to overtake OpenAI’s recent valuation.

OpenAI’s valuation was about $852 billion after a late-March funding round, setting a high benchmark for Anthropic.

Preemptive offers around $50 billion are circulating for Anthropic at a valuation between $850 billion and $900 billion, potentially signaling the final private round before an IPO.

Mythos, Anthropic’s cyber-focused model, faced limited testing and was reportedly accessed by a small group of users, raising safety concerns.

Anthropic faces a Pentagon supply-chain risk designation and related litigation, though investors on Sand Hill Road appear to be largely dismissing it for now.

Mythos has triggered discussions among Trump administration officials, tech CEOs, and bank executives, with compute needs cited as a driver for fresh capital.

Anthropic is engaging in early-stage talks with investors while not disclosing terms or accepting offers yet.

Founded in 2021 by former OpenAI employees, Anthropic develops tools across business tasks and recently introduced Mythos, a model aimed at detecting and potentially exploiting software vulnerabilities.

The fundraising comes ahead of a potential IPO, with Bloomberg citing a possible public listing as soon as October.