On 3 June 2026 Suno announced a round of over $400 million, which lifted it to a $5.4 billion valuation. In the same week, a motion from Universal Music Group and Sony Music is pending before a federal court in Massachusetts, asking for tens of thousands more recordings to be added to the lawsuit.
The round was led by Bond Capital, a fund associated with Mary Meeker. IVP, Forerunner, Union Square Ventures, Alkeon and Quiet joined, and Matrix, Lightspeed, Menlo Ventures and Schroders Capital returned. The valuation is roughly double that of November 2025, when Suno raised $250 million at a $2.45 billion valuation in a Series C.
A tenfold rise in two years
In May 2024, Suno raised $125 million at a valuation of around $500 million. According to Music Business Worldwide, the company passed two million paying subscribers by February 2026 and reports annual recurring revenue (ARR) of around $300 million. The team has about 200 people, and Suno plans to grow it by up to 70% by the end of 2026.
Co-founder and CEO Mikey Shulman, in an announcement reported by Variety, wrote that Suno is used by professional producers and by millions of people making music for the first time, “because music creation is no longer the domain of a niche few.” The company also says that in the coming months it will launch its first music model, developed in cooperation with the music industry.
Universal and Sony widen the lawsuit by 61,000 recordings
The RIAA sued Suno and rival Udio in June 2024 on behalf of Universal, Sony and Warner over the unlicensed copying of recordings to train AI models. On 21 May 2026, Universal and Sony filed a motion to add 61,026 protected recordings to the lawsuit, on top of the original 560 works. Suno has previously acknowledged in the proceedings that its training data probably included recordings by the plaintiffs. “The tens of millions of recordings that Suno’s model was trained on presumably included recordings whose rights are owned by the Plaintiffs,” its statement reads.
One of the plaintiffs has already left the dispute. Warner Music Group signed a licence agreement with Suno in November 2025 and withdrew its claims. Universal and Sony are continuing, and Suno is defending itself against the expansion of the lawsuit.
Competitors bet on licensed data
The lawsuit is also shaping competitors' strategies. ElevenLabs launched its Eleven Music model built entirely on licensed data, with agreements with Merlin and Kobalt. According to Music Business Worldwide, the company as a whole has passed $500 million in annual revenue and is valued at $11 billion. Udio, the other defendant, agreed with Universal in October 2025 on a shared licensed platform.
The AI Act and training data
For the European market, the key question is training data. The AI Act requires providers of general-purpose models to publish a summary of the copyrighted material they used. This obligation has applied to new models since August 2025. According to the European Commission, rules on labelling AI-generated content are due to be enforced from 2 August 2026.
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