Anthropic Raises $65 Billion Series H, Valued at $965 Billion, Overtakes OpenAI

Anthropic announced a $65 billion Series H funding round that valued the company at $965 billion, overtaking OpenAI’s most recent valuation as the two AI startups race to go public.

The Hill reported the round was led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital, and said the company’s valuation had risen from $380 billion just three months earlier after it raised $30 billion.

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CNBC said the financing puts Anthropic’s valuation above OpenAI’s, and it cited a $852 billion valuation for OpenAI in late March after a record-breaking $122 billion funding round.

Anthropic’s chief financial officer Krishna Rao said in a statement, “This funding will help us serve the historic demand we are experiencing, stay at the research frontier, and bring Claude to more of the places where work happens.”

Alongside the Series H announcement, Anthropic said it plans to release its Mythos model more widely, after last month offering a limited group of companies and government agencies early access to the new, more powerful model.

The Hill quoted the company’s press release warning that “Models of this capability level require stronger cyber safeguards before they can be generally released,” and said it expected to bring Mythos-class models to all customers in the coming weeks.

Anthropic

TechCrunch said the same day Anthropic released its new Claude Opus 4.8 model, touting better capabilities in agentic tasks, advanced coding, and focus on honesty and self-correction.

TechCrunch also said Anthropic was reportedly planning to more widely launch models on par with its powerful cybersecurity model Mythos, which it has only released in limited fashion due to potential safety concerns.

Anthropic’s funding package included $15 billion of previously committed investments from hyperscalers, with $5 billion from Amazon, and the company said it also signed agreements with Amazon for up to five gigawatts of new capacity.

In its own statement, Anthropic said it signed agreements with Google and Broadcom for five gigawatts of next-generation TPU capacity and with SpaceX for access to GPU capacity in Colossus 1 and Colossus 2.

The Hill said both Anthropic and OpenAI are widely expected to go public this year, while CNBC reported OpenAI is preparing to file its confidential IPO prospectus in the coming days or weeks and that it is looking to go public as soon as September.

CNBC also reported Elon Musk’s SpaceX filed for an initial public offering, and it said Musk’s combined company was valued at $1.25 trillion when SpaceX merged with xAI in February.