Anthropic Eyes $900B Valuation

Anthropic is in talks with investors to raise funds at a $900 billion valuation, surpassing OpenAI’s $850 billion mark as AI companies command unprecedented valuations. According to CNBC, the funding round would position the Claude maker as the most valuable AI company globally.

The potential raise comes as Anthropic reported $30 billion in annualized revenue earlier this month, demonstrating the rapid monetization of large language models in enterprise markets.

OpenAI Restructures Microsoft Partnership

OpenAI announced major changes to its Microsoft partnership this week, ending the software giant’s exclusive license to OpenAI intellectual property. CNBC reported that while OpenAI will continue paying revenue share to Microsoft, Microsoft will stop making reciprocal payments to OpenAI.

The restructuring signals OpenAI’s push for greater independence as it scales beyond its initial Microsoft-backed infrastructure. The companies issued a joint statement emphasizing their partnership remains “strong and central,” though the exclusive licensing arrangement that defined their early relationship has ended.

This shift reflects broader changes in AI partnerships as companies seek more flexible arrangements to pursue diverse revenue streams and strategic alliances.

Enterprise AI Funding Surge Continues

Netomi raised $110 million in Series D funding led by Accenture Ventures, with participation from Adobe Ventures, WndrCo, and others. VentureBeat reported that Jeffrey Katzenberg joined the company’s board as part of the round.

The San Francisco-based startup builds AI systems for enterprise customer service, competing in a crowded field that includes Sierra, which raised $350 million at a $10 billion valuation in September 2025. Netomi’s backing from AI luminaries including OpenAI co-founder Greg Brockman and Google DeepMind co-founder Demis Hassabis underscores investor confidence in enterprise AI applications.

The funding reflects a market shift toward AI companies that can demonstrate real-world performance in complex enterprise environments, rather than those that excel primarily in demonstrations.

Legal AI Competition Intensifies

Legora reached a $5.6 billion valuation after crossing $100 million in annual recurring revenue, bringing the Swedish legal AI startup closer to rival Harvey’s $11 billion valuation. TechCrunch reported that NVIDIA Ventures made its first legal AI investment by backing Legora’s $50 million Series D extension.

Legora serves over 1,000 law firms and in-house legal teams across 50 markets, including Bird & Bird, Cleary Gottlieb, and Linklaters. Harvey claims 100,000 lawyers across 1,300 organizations, including global firms like Latham & Watkins and corporate teams at T-Mobile and Bridgewater.

The competition highlights the rapid adoption of AI tools in legal work, with both companies securing high-profile clients and substantial funding within 18 months of launching their platforms.

SoftBank Plans $100B AI Spinout

SoftBank is considering a $100 billion AI and robotics spinout for a potential U.S. IPO, focusing on data center construction and robotics systems. CNBC reported that the new entity would use robotics to improve AI infrastructure construction efficiency.

Founder Masayoshi Son has committed tens of billions to the AI sector in recent years, reflecting his growing appetite for AI investments. The spinout would represent one of the largest AI-focused public offerings if it proceeds, potentially providing a significant liquidity event for AI infrastructure investments.

The move aligns with SoftBank’s strategy of creating specialized entities around high-growth technology sectors, similar to its previous approach with telecommunications and mobile internet investments.

What This Means

The AI sector is experiencing a valuation reset as companies demonstrate real revenue growth and enterprise adoption. Anthropic’s potential $900 billion valuation, based on $30 billion in annualized revenue, suggests investors are pricing AI companies on revenue multiples similar to high-growth SaaS businesses.

Partnership structures are evolving as AI companies mature beyond their initial funding relationships. OpenAI’s restructuring with Microsoft indicates a broader trend toward more balanced partnerships as AI companies gain leverage and seek strategic flexibility.

The concentration of funding in enterprise-focused AI companies like Netomi and Legora reflects investor preference for applications with clear monetization paths over general-purpose AI research. Legal AI’s rapid growth demonstrates how vertical-specific AI tools can achieve significant scale within 18 months.

FAQ

How does Anthropic’s $900B valuation compare to other tech companies?
At $900 billion, Anthropic would exceed most public technology companies except Apple, Microsoft, and NVIDIA. The valuation represents a 30x multiple on its $30 billion annualized revenue.

What changes in the OpenAI-Microsoft partnership?
Microsoft loses exclusive licensing rights to OpenAI’s intellectual property and stops receiving revenue share payments from OpenAI. OpenAI continues paying Microsoft but gains freedom to license its technology to other partners.

Why are legal AI companies attracting such high valuations?
Legal AI demonstrates clear ROI through document review automation and research acceleration. Both Legora and Harvey show rapid enterprise adoption with measurable productivity gains, making them attractive to investors seeking proven AI applications.