Anthropic Passes OpenAI with $965 Billion Valuation
Anthropic has become the most valuable artificial intelligence startup in Silicon Valley, after announcing a massive $65 billion funding round that values the company at $965 billion.
Anthropic has become the most valuable artificial intelligence startup in Silicon Valley, after announcing a massive $65 billion funding round that values the company at $965 billion.
The Series H round was led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital, and nearly triples Anthropic’s valuation from February, when the company was valued at $380 billion. The financing also includes $15 billion in previously committed investments, including $5 billion from Amazon.
The new valuation puts Anthropic ahead of OpenAI, which was valued at $852 billion in late March after closing its own record-breaking $122 billion funding round.
Anthropic’s rapid rise has been driven by surging demand for its Claude models, particularly its AI coding assistant Claude Code. The company said Thursday that it now has a $47 billion revenue run rate, up from $30 billion earlier this year and $10 billion in annual revenue last year.
The company also released its newest model, Claude Opus 4.8, and has drawn attention on Wall Street with Claude Mythos Preview, a cybersecurity-focused model currently available only to a select group of companies.
“Claude is increasingly indispensable to our growing global community of customers,” Anthropic CFO Krishna Rao said, adding that the new funding would help the company meet demand, remain at the research frontier and bring Claude into more workplaces.
The funding round comes as the leading AI companies move closer to the public markets. OpenAI is reportedly preparing to file a confidential IPO prospectus in the coming days or weeks, with a possible listing as early as September.
Anthropic is also preparing for a potential IPO behind the scenes, though the timing remains uncertain.
Elon Musk’s SpaceX, which now includes his AI startup SpaceXAI, filed its prospectus last week ahead of a planned IPO. The combined company was valued at $1.25 trillion after the February merger.
The race among AI giants is now moving from model performance and user growth into capital markets, infrastructure and enterprise dominance. Anthropic’s latest round shows that investors see it not as an OpenAI alternative, but as one of the central companies shaping the next phase of the AI economy.