Anthropic’s $65 bn funding pushes valuation near $1 tn, ahead of OpenAI

Anthropic announced that it has raised $65 billion, bringing its post-money valuation to $965 billion. The Series H funding round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital. The latest round pushes the Claude maker’s valuation past OpenAI’s valuation of $852 billion.

"Global enterprises across industries are deploying Claude in their core operations, and a growing number of people around the world are using it for their everyday work. Since our Series G in February, adoption has continued to grow among global enterprise customers, and our run-rate revenue crossed $47 billion earlier this month. This latest funding is expected to advance our safety and interpretability research, expand compute capacity to meet growing demand for Claude, and scale the products and partnerships our customers rely on," the AI company said in a statement.

“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,” said Krishna Rao, Chief Financial Officer at Anthropic. According to him, the latest funding would help serve the "historic demand we are experiencing, stay at the research frontier, and bring Claude to more of the places where work happens.”

Who were the investors

The round was co-led by Capital Group, Coatue, D1 Capital Partners, GIC, ICONIQ, and XN. Significant investors in this round include AMP PBC, Baillie Gifford, Blackstone, Brookfield, D.E. Shaw Ventures, DST Global, Fidelity Management & Research Company, General Catalyst, Insight Partners, Jane Street, Lightspeed Venture Partners, MGX, NTTVC, NX1 Capital, Situational Awareness LP, T. Rowe Price Associates, Inc., T. Rowe Price Investment Management, Inc., and Temasek. It also includes $15 billion in previously committed investments from hyperscalers, including $5 billion from Amazon.

"Joining them are strategic infrastructure partners — Micron, Samsung, and SK hynix — whose technologies play a critical role in the world's supply of memory, storage, and logic chips. As demand for Claude continues to grow, these relationships will help us scale our compute reliably at the pace our customers need," the statement read.

The Claude parent said it has expanded its compute capacity in recent weeks through agreements with Amazon for up to five gigawatts of new capacity, with Google and Broadcom for five gigawatts of next-generation TPU capacity, and with SpaceX for access to GPU capacity in Colossus 1 and Colossus 2.

"Claude is the first frontier model available on all three of the world's largest cloud platforms: Amazon Web Services, Google Cloud, and Microsoft Azure. AWS remains our primary cloud provider and training partner."

“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.

“Dragoneer has long partnered with companies building the technology that will shape our future. Anthropic is helping pull forward this future, as intelligence becomes an increasingly critical ingredient in the way businesses operate and how their products show up in the world,” said Marc Stad, Managing Partner at Dragoneer. “The technological progress we are seeing right now is breathtaking. And we believe that we are still in the earliest days of both the development and commercialization of this technology.”

“Anthropic has built an organization in which the world’s best researchers and engineers operate with unmatched clarity of purpose because they believe this is the most important work they will ever do,” said Neil Mehta, Founder and Managing Partner at Greenoaks. “Rarely have a company’s culture, mission, and commercial momentum reinforced each other so completely. We are honored to deepen our partnership.”

“Startups and Global 5000 companies alike are deploying Claude to handle complex workflows, and in doing so, Claude is learning how businesses actually operate — the context, the processes, the judgment,” said Alfred Lin, Partner at Sequoia Capital. “Anthropic is building the bridge between where enterprise AI stands today and where it’s headed.”