Anthropic raises $65B, nears $1T valuation before IPO

Anthropic has secured $65 billion in funding at a post-money valuation of $965 billion in its latest round, likely marking the AI startup's final private fundraising before going public.
The Series H round was co-led by Altimeter Capital, Dragoneer, Greenoaks, Sequoia Capital, Capital Group, Coatue, D1 Capital Partners, and others. Institutional investors including Baillie Gifford, Blackstone, Brookfield, D.E. Shaw Ventures, DST Global, and Fidelity Management & Research also participated.
Strategic infrastructure partners such as Samsung, SK Hynix, and Micron joined the round as well. A portion of the funding — $15 billion — consists of previously committed investments from hyperscalers, including $5 billion from Amazon announced in April.
TechCrunch reported last month that Anthropic was close to closing a $50 billion round, with investors eager to secure a spot on the cap table. One institutional investor had pledged as much as $5 billion simply to get a meeting with Anthropic CFO Krishna Rao.
Anthropic plans to use the new funds to "advance our safety and interpretability research, expand compute to meet growing demand for Claude, and scale the products and partnerships our customers rely on."
The round coincides with the release of Anthropic's new Claude Opus 4.8 model, which boasts improved capabilities in agentic tasks, advanced coding, and a focus on honesty and self-correction. The AI startup is also reportedly planning a wider launch for models comparable to its powerful cybersecurity model Mythos, which has been released only in a limited capacity due to safety concerns.
The company has experienced increased growth since its last funding round, particularly among enterprise customers using Claude Code. Anthropic's run-rate revenue surpassed $47 billion earlier this month, and The Wall Street Journal recently reported that the startup expects a 130% revenue surge to reach its first operating profit.
"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," said Brad Gerstner, Founder and CEO of Altimeter Capital.
Anthropic has been in tight competition with OpenAI for fundraising and user growth ahead of their respective IPOs. Earlier this year, OpenAI raised a massive $122 billion round in March at an $852 billion post-money valuation.
Elon Musk’s 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.
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Anthropic has secured $65 billion in funding at a post-money valuation of $965 billion in its latest round, likely marking the AI startup's final private fundraising before going public.
The Series H round was co-led by Altimeter Capital, Dragoneer, Greenoaks, Sequoia Capital, Capital Group, Coatue, D1 Capital Partners, and others. Institutional investors including Baillie Gifford, Blackstone, Brookfield, D.E. Shaw Ventures, DST Global, and Fidelity Management & Research also participated.
Strategic infrastructure partners such as Samsung, SK Hynix, and Micron joined the round as well. A portion of the funding — $15 billion — consists of previously committed investments from hyperscalers, including $5 billion from Amazon announced in April.
TechCrunch reported last month that Anthropic was close to closing a $50 billion round, with investors eager to secure a spot on the cap table. One institutional investor had pledged as much as $5 billion simply to get a meeting with Anthropic CFO Krishna Rao.
Anthropic plans to use the new funds to "advance our safety and interpretability research, expand compute to meet growing demand for Claude, and scale the products and partnerships our customers rely on."
The round coincides with the release of Anthropic's new Claude Opus 4.8 model, which boasts improved capabilities in agentic tasks, advanced coding, and a focus on honesty and self-correction. The AI startup is also reportedly planning a wider launch for models comparable to its powerful cybersecurity model Mythos, which has been released only in a limited capacity due to safety concerns.
The company has experienced increased growth since its last funding round, particularly among enterprise customers using Claude Code. Anthropic's run-rate revenue surpassed $47 billion earlier this month, and The Wall Street Journal recently reported that the startup expects a 130% revenue surge to reach its first operating profit.
"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," said Brad Gerstner, Founder and CEO of Altimeter Capital.
Anthropic has been in tight competition with OpenAI for fundraising and user growth ahead of their respective IPOs. Earlier this year, OpenAI raised a massive $122 billion round in March at an $852 billion post-money valuation.
Elon Musk’s 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.
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