Anthropic has raised $65 billion in a Series H funding round that values the artificial intelligence company at $965 billion, making it the most valuable AI startup in Silicon Valley and placing it ahead of OpenAI.
The financing was announced Thursday and was led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital. Anthropic said the round also includes $15 billion in previously committed investments, among them $5 billion from Amazon.
The new valuation marks a sharp jump from February, when Anthropic was valued at $380 billion. That is nearly a tripling in just a few months, underscoring investor appetite for the major model developers competing to dominate the AI market.
OpenAI had previously held the higher valuation among AI labs after a $122 billion funding round in late March, which priced the company at $852 billion. Anthropic’s latest deal now moves it above its rival in private-market value, even as both companies continue to expand their product lines and enterprise reach.
Anthropic’s growth has been fueled in large part by demand for Claude Code, its AI coding assistant. The company said on Thursday that its revenue run rate has reached $47 billion, up from $30 billion earlier this year and from $10 billion in annual revenue last year. The rapid rise suggests that enterprise adoption of its tools has accelerated significantly over the past year.
Alongside the financing announcement, Anthropic also introduced its newest model, Claude Opus 4.8, earlier in the day. The company has been working to position its models as useful for professional users across coding, business operations and cybersecurity. One of its recent offerings, Claude Mythos Preview, is available only to a limited set of customers because of its advanced cybersecurity capabilities.
In a statement released with the funding news, Anthropic chief financial officer Krishna Rao said the company sees strong demand for Claude and related products. He said the new capital will help the company meet that demand, continue research and broaden where its tools can be used in the workplace.
The funding round comes as major AI companies increasingly prepare for the public markets. CNBC has reported that OpenAI is working toward a confidential IPO filing, with a listing potentially coming as soon as September. Anthropic is also said to be making preparations for an eventual offering, though the timing remains uncertain.
The broader race among leading AI firms has intensified as valuations climb and investors continue to back the infrastructure, models and applications shaping the sector. Anthropic’s latest financing puts it closer than ever to the $1 trillion mark and highlights how quickly the market has scaled around a small number of leading players.
For now, the company’s latest round establishes a new benchmark in the AI startup market, while also sharpening the competition between Anthropic and OpenAI as both firms move toward the possibility of public listings.