Anthropic has ~$146.6 billion in cash on hand (Sept 2026). It's not out of options at this point. That's the second largest pile of cash on hand of any corporation in the US outside of Berkshire Hathaway and Google.

The cheap money days are likely over or rapidly diminishing. The next plot of cheap money to add to their pile, is public investors (if they hurry). They can raise $75-$100 billion that way, pushing their pile well over $200 billion. One assumes based on their obligations and expenditures projected over the coming 3-5 years, they'll need it.