Anthropic’s ongoing negotiations for a $30–50 billion funding round at a $900–950 billion valuation represent the main catalyst shaping trader views on when the next round will close. The AI startup, known for its Claude large language model, recently unveiled the Mythos model and is seeking capital ahead of a potential initial public offering while rival OpenAI completed a comparable raise earlier this year. Reports indicate terms have been largely agreed with lead investors including Dragoneer, Greenoaks, Sequoia, and Altimeter, with closure expected as soon as late May 2026. This rapid timeline follows the $30 billion Series G round completed in February at a $380 billion valuation, highlighting how strong demand for top-tier AI talent and compute resources continues to compress fundraising cycles across the sector.