Anthropic raises $65 billion, surpassing OpenAI with a $965 billion valuation

Anthropic has raised $65 billion in a new financing round that values the artificial intelligence company at $965 billion, according to Bloomberg and company statements, making it more valuable than OpenAI for the first time. The deal, a Series H round, also pushes Anthropic to within striking distance of the $1 trillion mark and underscores the extraordinary investor appetite for leading AI firms.

Bloomberg reported that the round was led by Altimeter, Dragoneer, Greenoaks and Sequoia Capital, with a long list of additional participants that includes large financial firms and strategic investors. Anthropic said the money will be used to expand compute capacity, support its safety and interpretability research, and scale products and partnerships for customers using its Claude chatbot and related tools.

The new valuation overtakes OpenAI’s most recent mark of $852 billion in a March funding round, as described by Bloomberg and Reuters. That comparison matters because the two companies are widely seen as the front-runners in the race to build and commercialize frontier AI systems, competing for talent, customers and, most importantly, access to the enormous computing power needed to train and run advanced models.

Reuters, in a separate report carried by Channel NewsAsia, said Anthropic’s valuation has more than doubled from $380 billion in February, highlighting how quickly the market has repriced the company as demand for AI products accelerates. The report also said Anthropic and OpenAI are both preparing for possible public listings, potentially as soon as this year, as they seek capital to fund the infrastructure required for future model development.

The funding round also reflects the growing role of major strategic backers in AI. According to Anthropic’s own announcement, the latest financing includes $15 billion in previously committed investments from hyperscalers, including $5 billion from Amazon. The company has already drawn heavy support from big technology and financial players, reinforcing the view that the most advanced AI builders now require capital on a scale once reserved for the largest public companies.

The move comes amid broader signs that AI wealth is reshaping San Francisco’s economy. Business Insider reported that a seller of a $2.9 million San Francisco home is even accepting payment in Anthropic or OpenAI stock, a sign of how closely local real estate and private tech valuations have become tied to the fortunes of a handful of AI companies.

For Anthropic, the immediate question is how quickly it can turn that valuation into durable business growth. The company said the funding will help meet demand for Claude and expand its infrastructure, but the broader significance is clear: the AI industry’s financial center of gravity is shifting fast, and Anthropic has now moved ahead of its most visible rival in private-market value.