Anthropic Raises $65 Billion At $965 Billion Valuation, Surpasses OpenAI For First Time

Anthropic has raised $65 billion in a Series H funding round at a post-money valuation of $965 billion, surpassing rival OpenAI's most recent valuation of $852 billion for the first time.

The round, announced on Thursday, more than doubled Anthropic’s valuation from $380 billion in February. It highlights the company’s fast rise as a major player in the artificial intelligence (AI) sector, along with strong investor demand for stakes in frontier AI firms.

The company said its run-rate revenue crossed $47 billion earlier this month.

Who Led The Round

The funding round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, with each of the four lead investors putting in more than $2 billion. Coatue and ICONIQ participated as co-leads.

Alphabet's Google contributed several billion dollars as part of its earlier commitment to invest up to $40 billion in Anthropic over time. Amazon also put in $5 billion in the round. This too comes under its previously announced investment plan.

Anthropic's strategic infrastructure partners Micron, Samsung, and SK Hynix also joined the round, helping push the total well above Anthropic's initial $30 billion target. The round also includes $15 billion of previously committed investments from hyperscalers.

Revenue And Profitability Trajectory

Anthropic is expecting around $10.9 billion in revenue for the second quarter. That is more than double from the previous three-month period, driven by strong demand for its AI tools. The company is also close to its first profitable quarter.

Its annualised revenue run rate is projected to cross $50 billion by the end of next month, according to people familiar with the matter.

For context, the run rate stood at about $4 billion in July last year. The pace of growth has been unusually fast, even by AI industry standards.

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IPO Plans

Anthropic is seeking private funding while also preparing for a potential public listing, according to investors and bankers familiar with the company.

OpenAI is also planning to tap public markets. This could happen as early as this year.

The goal is to raise large amounts of capital. The funds would help them secure computing power and train new AI models.

Sources:

Reuters

The Economic Times