Anthropic raised $65 billion in a Series H funding round on Thursday, valuing the AI company at $965 billion post-money. The company announced earlier this month that its annualized revenue surpassed $47 billion as enterprise adoption of its Claude AI models continued to grow. The funding round underscores the escalating infrastructure costs required to build and operate frontier AI models, with Anthropic stating the capital will support AI safety research and expand compute power for training increasingly powerful systems.
The round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, with participation from Blackstone, Fidelity, Lightspeed Venture Partners, and Temasek. Anthropic's $965 billion valuation now exceeds the last disclosed valuation of OpenAI, which announced a $852 billion valuation in March following a $122 billion funding round. The funding comes amid growing demand for AI infrastructure and follows partnerships with Amazon, Google, Broadcom, and SpaceX aimed at expanding computing capacity for Claude.
Funding Details
The Series H round brought Anthropic's post-money valuation to $965 billion, with Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital serving as lead investors. Additional participants included Blackstone, Fidelity, Lightspeed Venture Partners, and Temasek. Altimeter Capital founder and CEO Brad Gerstner stated that "Claude's latest advancements have driven large-scale adoption among the world's most demanding organizations."
The valuation positions Anthropic above OpenAI's last disclosed $852 billion valuation from March. OpenAI's valuation followed a $122 billion funding round, with the company citing accelerating demand for ChatGPT, enterprise AI tools, and computing power worldwide.
Revenue Growth
Anthropic wrote on X that its run-rate revenue crossed $47 billion earlier this month. The company attributed the growth to organizations across multiple industries deploying Claude in core operations and increasing numbers of individuals using the system for everyday work.
Krishna Rao, Chief Financial Officer of Anthropic, stated: "Claude is increasingly indispensable to our growing global community of customers, and we work tirelessly to make tools like Claude Code and Cowork more helpful, more powerful, and more adaptable to their needs. This funding will help us serve the historic demand we are experiencing, stay at the research frontier, and bring Claude to more of the places where work happens."
Fund Allocation
Anthropic stated the $65 billion will support safety and interpretability research while expanding compute infrastructure required to train and run AI models. Investors said the funding reflects growing demand for Claude AI models among businesses.
The announcement follows partnerships and investments from Amazon, Google, Broadcom, and SpaceX aimed at expanding computing power needed to train and run Claude.
Pentagon Contract Dispute
The funding announcement comes amid an ongoing dispute with the Trump administration. In February, Pentagon officials demanded AI contractors allow their models to be used for "any lawful use," including military applications. Anthropic, which holds a $200 million Defense Department contract, refused to remove safeguards blocking Claude from being used for mass domestic surveillance or fully autonomous lethal weapons.
Cybersecurity experts have raised concerns that Anthropic's Claude Mythos model could make advanced cyberattacks easier to carry out.
Product Updates
On the same day as the funding announcement, Anthropic released Claude Opus 4.8, the latest version of its flagship AI model. The company stated that Claude Mythos, its cybersecurity-focused model, could become publicly available within weeks as the company works to expand safeguards around the system.
FAQ
What is Anthropic's current valuation?
Anthropic's post-money valuation stands at $965 billion following its Series H funding round.
How much revenue does Anthropic generate?
Anthropic's annualized revenue run-rate surpassed $47 billion earlier this month, driven by enterprise adoption of Claude AI models.
Who led Anthropic's Series H funding round?
The round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, with participation from Blackstone, Fidelity, Lightspeed Venture Partners, and Temasek.
