Anthropic Raises $65 Billion in Funding, Eyes $1 Trillion Valuation Ahead of IPO

Anthropic has raised $65 billion in its latest funding round, achieving a $965 billion post-money valuation. This might indicate the AI startup’s final private fundraising before going public.

The Series H funding round was co-led by Altimeter Capital, Dragoneer, Greenoaks, Sequoia Capital, Capital Group, Coatue, D1 Capital Partners, among others. Key institutional investors included Baillie Gifford, Blackstone, Brookfield, D.E. Shaw Ventures, DST Global, and Fidelity Management & Research.

Additionally, strategic infrastructure partners such as Samsung, SK Hynix, and Micron participated. Importantly, $15 billion of this funding came from previously pledged investments by hyperscalers, including $5 billion from Amazon, announced back in April.

TechCrunch reported last month that Anthropic was on the verge of completing a $50 billion funding round, with strong investor interest in joining the cap table. One institutional investor even committed up to $5 billion just for a chance to meet Anthropic CFO Krishna Rao.

The new funds will be utilized by Anthropic to “enhance our safety and interpretability research, increase computing resources to meet the growing demand for Claude, and scale the products and partnerships that our clients depend on.”

This funding aligns with the release of Anthropic’s Claude Opus 4.8 model, showcasing enhanced capabilities in agentic tasks, advanced coding, and a focus on honesty and self-correction. The startup is also reportedly gearing up for a broader release of models similar to its powerful cybersecurity tool Mythos, which has only been selectively available due to safety concerns.

Since its last funding round, the company has seen substantial growth, particularly among enterprise clients using Claude Code. They announced that their run rate revenue surpassed $47 billion earlier this month, and The Wall Street Journal has highlighted that the startup expects a 130% revenue increase as it targets its first operating profit.

“Claude’s recent innovations have resulted in extensive adoption by the most demanding organizations worldwide. This momentum positions Anthropic to lead the next phase of AI innovation and capitalize on significant opportunities ahead,” remarked Brad Gerstner, founder and CEO of Altimeter Capital.

Anthropic is actively competing with OpenAI for both funding and user expansion as they approach their IPOs. OpenAI raised an impressive $122 billion in March, reaching a post-money valuation of $852 billion.

Elon Musk’s SpaceX, which merged with xAI earlier this year, is targeting a $2 trillion valuation in its upcoming IPO and is looking to raise over $75 billion.