Anthropic raises $65 billion at $965 billion valuation

Anthropic has secured $65 billion in a Series H funding round—a late-stage funding round—pushing its post-money valuation to $965 billion. This capital injection could be the artificial-intelligence startup’s last private fundraising before it debuts on the public markets. The round was co-led by a consortium of investors:

• Altimeter Capital
• Dragoneer
• Greenoaks
• Sequoia Capital
• Capital Group
• Coatue
• D1 Capital Partners

Other institutional participants in the round included Baillie Gifford, Blackstone, Brookfield, D.E. Shaw Ventures, DST Global, and Fidelity Management & Research. Strategic infrastructure partners Samsung, SK Hynix, and Micron also joined the round. A portion of the funding—$15 billion—consists of previously committed investments from hyperscalers (large cloud infrastructure providers), which includes $5 billion from Amazon announced in April. The massive round follows reports last month from TechCrunch that Anthropic was close to closing a $50 billion round. One institutional investor had even pledged as much as $5 billion just to secure a meeting with Anthropic CFO Krishna Rao. Anthropic plans to use the new funds to advance its safety and interpretability research, expand compute to meet growing demand for Claude, and scale its products and partnerships.

Coinciding with the funding, Anthropic released its new Claude Opus 4.8 model. Additionally, the startup is reportedly planning to more widely launch models on par with Mythos, its cybersecurity AI model. Access to Mythos has previously been limited due to potential safety concerns.

The funding comes as Anthropic experiences increased growth. The company reported that its run rate revenue—an annualized revenue projection based on current performance—crossed $47 billion earlier this month. In addition, The Wall Street Journal recently reported that the startup expects a 130% revenue surge to bring it to its first operating profit. This financial trajectory intensifies Anthropic’s competition with OpenAI, which raised a $122 billion round in March at an $852 billion post-money valuation. It also positions the company alongside other high-valuation entities preparing for public market debuts, such as Elon Musk’s SpaceX. SpaceX, which merged with xAI earlier this year, is targeting a $2 trillion valuation in its pending IPO and seeking to raise more than $75 billion.

Brad Gerstner, founder and CEO of Altimeter Capital, highlighted the market traction of Anthropic’s models. “Claude’s latest advancements have driven large-scale adoption among the world’s most demanding organizations. This momentum positions Anthropic to lead the next phase of AI innovation and capture the enormous opportunity ahead,” Gerstner said.

Why it matters

Anthropic’s massive funding round signals the intense capital requirements for AI leadership and sets the stage for a high-stakes IPO as the company competes with OpenAI and other major players.