Anthropic raises $65 billion at $965 billion valuation in Series H round, approaching trillion-dollar private company status

Anthropic announced a Series H funding round raising $65 billion at a $965 billion valuation. Roughly $15 billion of the Series H consists of previously committed money from hyperscalers, including the $5 billion announced by Amazon in April. Strategic infrastructure partners Samsung, SK Hynix, and Micron also participated, alongside Baillie Gifford, Blackstone, Brookfield, D.E. Shaw, DST Global, and Fidelity.

Series H rounds are exceptionally rare; most companies that have raised them are recognizable names like Facebook, Lyft, Discord, and Slack. Databricks reached a $134 billion valuation in February after completing Series I, J, and K rounds in roughly two-and-a-half years.

Anthropic's run-rate revenue crossed $47 billion earlier this month, up from a reported $7 billion in calendar 2025. The company is reportedly preparing for an IPO in the coming months, and has said it expects to be cash-flow positive by 2028.