Anthropic raises $65B at $900B valuation, overtakes OpenAI

Anthropic, the San Francisco-based artificial intelligence company, said this week it raised $65 billion in a funding round that values the company at $900 billion before the new capital. The valuation places Anthropic above OpenAI among private AI labs.

The financing was led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital. Strategic investments came from Samsung, Micron and SK Hynix. The round follows a $30 billion raise three months ago that set a $380 billion valuation for the company.

Anthropic reported an annualized revenue run rate above $47 billion this month, a more than fivefold increase since the start of the year. Company executives attribute the growth largely to rising demand for AI tools that generate software code and other technical outputs.

Anthropic said the new funds will expand computing capacity and support demand for its Claude family of models, including features that generate software code.

The company introduced Claude Opus 4.8, describing the model as delivering stronger performance on code generation and mathematics compared with earlier versions.

Rayan Krishnan, chief executive of Vals AI, said Opus 4.8 outperformed Anthropic’s previous systems on so-called “vibe coding,” where software is produced through conversational English prompts, and scored about 10% higher on Vals AI’s benchmark tests.

Krishna Rao, Anthropic’s chief financial officer, wrote that the new funding will help the company “serve the historic demand we are experiencing, stay at the research frontier, and bring Claude to more of the places where work happens.”

In a blog post, Anthropic said partnerships with memory, storage and logic chip manufacturers will expand the computing power needed to support Claude Code and other services.

PitchBook data shows Anthropic has raised more than $130 billion since its 2021 founding. The company lists investors including Capital Group, Menlo Ventures, Lightspeed Venture Partners, Amazon and Google.

OpenAI recently raised $122 billion at a $730 billion valuation. Some Anthropic insiders have discussed a possible initial public offering later this year, but the company has not announced a timeline.

Anthropic’s chief executive, Dario Amodei, has called for greater oversight of advanced AI systems. The company has publicly questioned Pentagon plans for military use of AI and advised Pope Leo XIV on a papal encyclical about the effects of artificial intelligence.