Anthropic’s $380 B Valuation Surpasses Combined Market Cap of India’s Top IT Firms,

Anthropic’s latest financing round catapulted its market value to $380 billion, a figure that now dwarfs the combined market capitalisation of India’s three biggest IT exporters—Tata Consultancy Services, Infosys and Wipro—according to the Times of India. The Indian report notes that the trio together were worth roughly $340 billion at the end of March, meaning Anthropic’s valuation exceeds the entire sector by about $40 billion. The surge follows a $13 billion Series F round that pushed the company’s valuation to $183 billion in early 2024, as detailed by TechCrunch. Investors in the latest round include a mix of sovereign wealth funds and tech‑focused venture firms, underscoring the market’s appetite for “foundational” AI platforms that can be embedded across enterprise workflows.

The valuation jump is being driven by rapid commercial adoption of Anthropic’s Claude family of models. VentureBeat highlighted the release of Claude Opus 4.6, which now supports a one‑million‑token context window and “agent teams” that can orchestrate complex multi‑step tasks. The upgrade positions Claude as a direct competitor to OpenAI’s Codex and GitHub Copilot, especially in code‑generation and data‑analysis use cases. In parallel, Anthropic disclosed that its Claude Code agent can translate legacy COBOL programs into modern Java or Python with 98 percent accuracy, a claim echoed in a blog post that noted IBM’s shares fell 13.15 percent after the demonstration, wiping roughly $30 billion off the chipmaker’s market cap.

Revenue growth reflects that momentum. Reuters reported Anthropic’s annualised revenue now sits at $3 billion, a three‑fold increase from the previous year, driven primarily by enterprise licences for Claude Opus and bespoke AI‑assistant deployments. The company’s sales pipeline is reportedly filled with large‑scale contracts in finance, healthcare and manufacturing, where customers are seeking to replace costly legacy codebases and automate knowledge‑intensive processes. The firm’s CEO, Dario Amodei, has said the fresh capital will be earmarked for expanding the Claude platform’s multimodal capabilities and scaling the underlying compute infrastructure, a move designed to lock in market share before rivals can catch up.

Anthropic’s valuation leap also reshapes the competitive landscape for Indian IT firms, which have traditionally relied on offshore software development and services. The Times of India analysis warns that as AI models become capable of automating code translation and system migration, the “COBOL moat” that once protected legacy‑maintenance revenue streams is eroding. IBM’s recent stock dip, triggered by Anthropic’s demonstration of high‑fidelity COBOL‑to‑Python conversion, illustrates the broader risk to firms whose business models hinge on maintaining dated mainframe environments. Indian IT giants are now accelerating their own AI initiatives, investing in generative‑AI labs and partnering with cloud providers to offer AI‑augmented services, but the gap between AI‑native platforms and traditional service models appears to be widening.

Analysts cited by TechCrunch caution that while a $380 billion valuation signals strong investor confidence, it also raises the bar for performance expectations. The market will be watching whether Anthropic can sustain its revenue trajectory and deliver on promises of “agent teams” that can autonomously manage end‑to‑end workflows. If the company succeeds, it could set a new benchmark for AI‑first enterprises, compelling even the most entrenched IT service providers to reinvent their value propositions or risk obsolescence. For now, Anthropic’s meteoric rise stands as a stark reminder that the AI frontier is reshaping not just tech valuations, but the very foundations of the global software industry.