Anthropic Is About to Close $50B at a $900B Valuation — and the Run Rate Behind It Quadrupled in Five Months on Coding-Agent Revenue
Multiple outlets reported between April 29 and May 1 that Anthropic has preemptive offers to raise around $50 billion at a valuation of roughly $850–900 billion. The board meeting that finalizes it is scheduled for May. Annual revenue run rate has gone from ~$9B at end-2025 to roughly $30–40B today — most of the growth from coding-agent products. The chart that won the valuation argument is the same chart that explains why entry-level engineering hiring is collapsing.