Anthropic announced on May 28 that it has completed a $65 billion Series H funding round, bringing its post-money valuation to $965 billion. This vaults it past OpenAI, which was valued at $852 billion in March this year, making Anthropic the world’s highest-valued AI startup. The round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, with participation from D. E. Shaw Group, Blackstone, Temasek, and Baillie Gifford (a subsidiary of BlackRock). Micron, Samsung, and SK Hynix participated as strategic infrastructure partners. The round includes $15 billion previously committed by hyperscale cloud providers, including $5 billion from Amazon. Anthropic CFO Krishna Rao disclosed that the company’s annualized revenue had surpassed $47 billion this month.
Anthropic’s valuation has grown more than 2.5 times in under three months since its $38 billion Series G in February this year, a surge driven primarily by the explosive growth of Claude Code. The company said the new funding will be used to advance safety and interpretability research, expand computing capacity to meet Claude’s growing demand, and scale its product ecosystem and partner network. Previously, Anthropic had signed an agreement with Amazon for up to 5 gigawatts of new computing capacity, partnered with Google and Broadcom for next-generation TPU computing, and secured a GPU computing access agreement with SpaceX. TechCrunch reports that this round is likely Anthropic’s final private fundraising before an IPO.