Anthropic, the five-year-old AI company and creator of the Claude chatbot, announced Thursday that it has raised $65 billion in Series H funding. This private funding round pushes the company's post-money valuation to $965 billion, making it one of the world's most valuable startups and surpassing its chief rival, OpenAI, which was last valued at $852 billion in March. The funding round was led by Altimeter Capital, Dragoneer Investment Group, Greenoaks Capital, and Sequoia Capital, and includes $15 billion from hyperscalers, including $5 billion from Amazon.
The company reported an annualized revenue run-rate of $47 billion, driven by global enterprise adoption of its technology for coding and professional tasks. Alongside the funding news, Anthropic launched its newest large language model, Claude Opus 4.8, which offers improved capabilities in complex coding. To meet growing demand and expand computing capacity, Anthropic is also working with Apollo Global Management and Blackstone to secure approximately $36 billion in debt financing to purchase custom tensor processing units from Google, with Broadcom backstopping the largest portions of the transaction.
Founded in 2021 by former OpenAI leaders, Anthropic now offers Claude across the three largest cloud platforms: Amazon Web Services, Google Cloud, and Microsoft Azure. While the company signaled that its Mythos AI is nearly ready for public release, it continues to lose more money than it earns, contributing to industry concerns regarding an AI bubble. This latest funding round may be the company's final private raise as it prepares for a potential initial public offering on Wall Street.