Anthropic has raised a $65 billion Series H funding round at a $965 billion valuation, making it the most valuable artificial intelligence company in Silicon Valley. The financing nearly triples the company’s valuation from February, when it was valued at $380 billion.
The round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital. Anthropic said the financing also includes $15 billion in previously committed investments, including a $5 billion commitment from Amazon.
The new valuation places Anthropic ahead of its chief rival OpenAI, which was valued at $852 billion following its $122 billion funding round in March. The milestone marks another dramatic shift in the AI industry, where leading model developers have seen valuations climb rapidly as enterprises increase spending on generative AI technologies.
Anthropic’s growth has been fueled largely by demand for its Claude family of products, particularly Claude Code, its AI-powered coding assistant. The company reported a $47 billion annualized revenue run rate, up from $30 billion earlier this year and $10 billion in annual revenue last year.
The funding announcement coincided with the release of Claude Opus 4.8, Anthropic’s latest flagship model. The company has also attracted attention with Claude Mythos Preview, an advanced cybersecurity-focused model currently available to a limited group of customers. Just recently, Anthropic said Mythos identified more than 10,000 high- and critical-severity software vulnerabilities through Project Glasswing, an initiative focused on protecting critical infrastructure and open-source software.
“Claude is increasingly indispensable to our growing global community of customers,” Anthropic Chief Financial Officer Krishna Rao said in a statement announcing the financing. The company said the new capital will support research, infrastructure expansion, and broader deployment of its AI products.
The Road to Public Markets
Anthropic’s financing arrives as several high-profile AI companies move closer to public listings. Investors have been watching closely for signs that the IPO market is reopening for large technology firms after several years of limited activity.
OpenAI is reportedly preparing confidential IPO filings and could pursue a public offering as early as this year. Meanwhile, Anthropic is also said to be laying the groundwork for an eventual IPO, although the timing remains uncertain.
The broader AI sector is entering a new phase in which companies are expected to demonstrate not only technological leadership but also sustained revenue growth and operational maturity. Anthropic’s latest valuation and funding round suggest investors believe the company is well positioned to compete on both fronts as the industry approaches its next stage of expansion.
