Anthropic Raises $65 Billion and Nearly Hits $1 Trillion Valuation Before IPO
Anthropic has closed a $65 billion funding round at a post-money valuation of $965 billion, positioning the Claude maker just a breath away from the trillion-dollar club. The Anthropic $65 billion funding round, officially its Series H, is widely seen as the company’s final major capital raise before it heads to the public markets.
The round was co-led by Altimeter Capital, Dragoneer, Greenoaks, Sequoia Capital, Capital Group, Coatue, and D1 Capital Partners, among others. Institutional heavyweights including Baillie Gifford, Blackstone, Brookfield, D.E. Shaw Ventures, DST Global, and Fidelity Management & Research also joined in. Strategic hardware players Samsung, SK Hynix, and Micron participated as infrastructure partners, a sign of how deeply the AI race is now tied to chip supply.
Notably, $15 billion of the total came from previously committed investments by hyperscalers, including a $5 billion contribution from Amazon announced in April. TechCrunch had reported last month that Anthropic was nearing a $50 billion close, with investor interest so intense that one institutional backer pledged $5 billion just to get a meeting with Anthropic CFO Krishna Rao.
The timing is deliberate. On the same day the funding was announced, Anthropic also unveiled its new Claude Opus 4.8 model, which brings stronger agentic capabilities, improved coding performance, and a sharper focus on honesty and self-correction. The company is also reportedly planning a broader rollout of models comparable to its restricted cybersecurity model, Mythos, though safety considerations have kept that product on a tight leash.
Anthropic says the fresh capital will go toward advancing safety and interpretability research, scaling compute infrastructure, and expanding the products and partnerships enterprises depend on. That enterprise angle is no small detail. Claude Code has driven significant adoption among large organisations, and Anthropic’s run rate revenue crossed $47 billion earlier this month. According to a Wall Street Journal report, the company expects a 130% revenue surge that would bring it to its first ever operating profit.
“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.
The Anthropic $65 billion funding round lands squarely in the middle of a fundraising war with OpenAI. Earlier this year, OpenAI raised a $122 billion round in March at an $852 billion post-money valuation. Meanwhile, Elon Musk’s SpaceX, which merged with xAI earlier this year, is targeting a $2 trillion valuation in its pending IPO and looking to raise over $75 billion. The race to go public among AI’s biggest names is no longer a question of if, but when.
