AI start-up Anthropic is in talks with investors to raise at least $30 billion (£22bn) in fresh funding at a valuation of more than $900bn, not including the new funding, Bloomberg reported.

The round, which would see Anthropic’s value equal or surpass that of ChatGPT developer OpenAI, is expected to close as soon as the end of May, the report said, citing unnamed people, who added that the funding is not finalised and no term sheet has been signed.

OpenAI was valued at $852bn in late March when it closed a record-breaking $122bn funding round, including contributions from Amazon, Nvidia and SoftBank.

Image credit: Anthropic

Surging valuation