Anthropic Raises $65B, Valued at $965B, Tops OpenAI

Anthropic announced Thursday that it raised $65 billion in a Series H financing, giving the company a $965 billion post-money valuation that tops OpenAI’s most recent disclosed $852 billion figure. The company said the funds will support research on AI safety and interpretability and expand the computing capacity needed to train and run larger models.

The round was led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital, with participation from Blackstone, Fidelity, Lightspeed Venture Partners and Temasek. Anthropic indicated the capital will be used to scale infrastructure and support growing commercial use of its Claude models.

Anthropic said earlier this month that its annualized run-rate revenue surpassed $47 billion, attributing the increase to organizations deploying Claude in core operations and more people using the assistant for everyday work. Krishna Rao, the company’s chief financial officer, said the funding will help Anthropic meet demand, maintain research work, and expand product availability.

Investors pointed to enterprise demand for Claude as a reason for the financing. Brad Gerstner, founder and CEO of Altimeter Capital, said the model’s recent improvements have driven large-scale adoption among demanding organizations and positioned Anthropic for the next phase of AI development.

On the same day as the funding announcement, Anthropic released Claude Opus 4.8. The company described the upgrade as faster and higher-scoring on benchmark tests. Pricing remains $5 per million input tokens and $25 per million output tokens, with a ‘fast mode’ option that runs about 2.5 times faster at $10 per million input tokens and $50 per million output tokens. Anthropic said the new fast mode is roughly three times cheaper than its previous fast option.

Anthropic also said it expects to make Claude Mythos, a cybersecurity-focused model, available to the public within weeks while it expands safeguards. Security researchers have raised concerns that Mythos could lower the barrier to advanced cyberattacks; Anthropic said it is working to add protections before wider release.

The company has announced partnerships and investments with technology firms including Amazon, Google, Broadcom and SpaceX to increase computing capacity. Anthropic holds a reported $200 million contract with the Defense Department and in February declined a Pentagon request to remove safeguards that prevent Claude from being used for mass domestic surveillance or fully autonomous lethal weapons. Pentagon officials had asked AI contractors to allow models to be used for ‘any lawful use,’ including military applications.

Anthropic emphasized that the new funding will help serve rising commercial demand, support safety and interpretability research, and scale compute resources to support larger models and more customers.