Anthropic, founded by ex-OpenAI employees in 2021, is poised to surpass OpenAI with a $900 billion valuation, driven by a $30B funding round co-led by top investors.

Cheaper AI models from Chinese and Western rivals are eroding OpenAI and Anthropic's pricing power, raising questions about their sky-high IPO valuations.

Anthropic is closing a $30B+ funding round at a valuation above $900B, making it one of the largest private financings ever, just months after its Series G.