Anthropic has raised $65 billion in a recent Series H funding round, valuing the artificial intelligence company at $965 billion post-money, according to a recent official press release. The figure propels Anthropic ahead of rival OpenAI, which was last valued at $852 billion in March, and marks a steep climb from the $380 billion valuation Anthropic secured in February.
The round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, with Coatue and ICONIQ as co-leads. Strategic infrastructure partners Micron, Samsung, and SK hynix also participated, and the total includes $15 billion of previously committed hyperscaler investments, among them $5 billion from Amazon.
Anthropic said its annualised revenue run rate crossed $47 billion earlier this month, driven by growing enterprise adoption of its Claude chatbot. The company has struggled to keep pace with demand, however, and recently introduced usage limits during peak hours while offering additional compute during off-peak periods to ease the strain.
To expand capacity, Anthropic has signed agreements for up to five gigawatts of new cloud infrastructure with Amazon, five gigawatts of next-generation TPU capacity with Google and Broadcom, and GPU access in SpaceX’s Colossus data centres.
The fundraising also comes as Anthropic readies for an eventual public listing, according to investors and bankers familiar with the matter, as per Reuters. A spokesperson declined to comment to Reuters on the IPO timing, but the rapidly swelling valuation signals the intense investor appetite for frontier AI companies.
Anthropic plans to use the fresh capital to advance safety research, scale compute, and broaden its product offerings, it said in the official press release.