Anthropic raises $65 billion at $965 billion valuation, surpassing OpenAI's March valuation of $852 billion

Anthropic announced a $65 billion funding round led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, which included $15 billion in prior commitments from hyperscalers including Amazon. The round valued the company at $965 billion.

The company's annual revenue run rate stood at $47 billion earlier this month, up from $30 billion in April and $9 billion last year. Anthropic also debuted Claude Opus 4.8, its latest flagship AI model, which the company says tops OpenAI's GPT-5.5 and Google's Gemini 3.1 Pro on synthetic benchmarks including agentic coding, agentic financial analysis, and agentic computer use.

Anthropic is in a sprint to go public before OpenAI, with both IPOs described as two of the most anticipated of the year outside of SpaceX. Wall Street analysts have been largely positive on Anthropic, citing its relatively judicious spending compared to OpenAI.