Anthropic raises $65bn at $965bn valuation

Anthropic has raised ?bn in Series H funding led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital. The round values Anthropic at $965bn post-money, above OpenAI’s $825bn valuation in March. This marks the first time the company has been worth more than its rival.

The round was co-led by Capital Group, Coatue, D1 Capital Partners, GIC, Iconiq, and XN. Investors include AMP PBC, Baillie Gifford, Blackstone, Brookfield, D.E. Shaw Ventures, DST Global, Fidelity Management & Research Company, General Catalyst, Insight Partners, Jane Street, Lightspeed Venture Partners, MGX, NTTVC, NX1 Capital, Situational Awareness LP, T. Rowe Price Associates, Inc., T. Rowe Price Investment Management, Inc., and Temasek. It also includes $15bn of previously committed investments from hyperscalers, including $5bn from Amazon. Strategic infrastructure partners Micron, Samsung, and SK Hynix also invested.

The company said that its run-rate revenue crossed $47bn earlier this month, up from $9bn at the end of last year. Anthropic has rapidly expanded its compute infrastructure through major cloud deals, a data center staff hiring spree, and a data center lease from SpaceX/xAI.

In May, the company announced that it would lease the entire Colossus 1 data center from Elon Musk’s company, in a deal worth $1.25bn a month. With the new funding announcement, Anthropic revealed that it is also leasing space out of the Colossus II data center. The latest raise ties Anthropic’s financial momentum directly to a broader build-out of data center capacity needed to support its generative Artificial Intelligence business.