Anthropic Raises $65 Billion, Reaches $965 Billion Valuation
Anthropic, a San Francisco-based AI company, announced May 28th that it raised 65 billion dollars in its Series H funding round, pushing its valuation to 965 billion dollars. This makes it the most valuable AI startup, surpassing competitor OpenAI. The round was led by major investment firms including Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, with participation from tech giants like Amazon, Google, and infrastructure partners. Anthropic reported its run-rate revenue has crossed 47 billion dollars, up significantly from earlier this year. The company plans to use the funding for computing capacity and advancing its Claude AI models. The funding comes just three months after a 30 billion dollar Series G round that valued the company at 380 billion dollars. Anthropic is widely expected to hold an IPO in October 2026, alongside rival OpenAI.
Key facts
- Anthropic raised $65 billion in Series H at a $965 billion post-money valuation on May 28, 2026
- The round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, with participation from Amazon, Google, Blackstone, and Samsung
- Anthropic's run-rate revenue is now $47 billion, up from $30 billion earlier in 2026 and $10 billion in 2025
- The valuation nearly triples Anthropic's $380 billion valuation from just 105 days prior in February 2026
- Anthropic now surpasses OpenAI, which was valued at $852 billion in its last funding round in March 2026
- The company expects a 130% revenue surge to reach its first operating profit
- Anthropic released Claude Opus 4.8 model on the same day as the funding announcement
- Anthropic co-founder Dario Amodei has pledged to donate 80% of his wealth, citing concerns about AI-driven wealth concentration
- The company faces an ongoing dispute with the Trump administration over military use restrictions
How different outlets framed it
Left-leaning coverage: Left-leaning sources highlight concerns about wealth concentration and monopoly power. They note that Anthropic's funding is creating a 'winner-take-all' environment where massive capital flows to a handful of companies while smaller competitors struggle. Critics also point out that despite Anthropic's stated commitment to AI safety, the company recently softened its flagship safety pledge and is pursuing military contracts and lucrative government deals that contradict its founding principles of cautious development.
Right-leaning coverage: Right-leaning sources express skepticism about valuation sustainability and question whether the funding represents genuine economic value or financial engineering between interconnected tech giants. They raise concerns about circular investment structures where Amazon and Google fund AI companies that then purchase compute from those same investors. Some skeptics also view Anthropic's military opposition as ideologically driven and potentially harmful to American competitiveness.
Limits of this briefing
Several important limitations exist in reporting this story. Anthropic's profitability metrics, gross margins, and detailed financial statements remain private and unaudited. Much of the company's valuation rests on future projections and revenue run rates that may not translate to sustainable profits. Additionally, questions persist about whether mega-funding rounds among AI companies represent genuine productivity or circular value transfers between interconnected tech giants and investors.
Sources
- TechCrunch: Anthropic raises $65 billion, nears $1T valuation ahead of IPO Centre
- CNBC: Anthropic tops OpenAI as most valuable AI startup, nears $1 trillion valuation Centre
- Fortune (left-leaning): Anthropic CEO expresses deep discomfort with concentration of power in AI industry Left
- ZeroHedge (right-leaning): Anthropic Raises $65BN At $965 Billion Valuation, Surpassing OpenAI Right
- Al Jazeera (center-left): Anthropic soars to $965bn valuation, leapfrogging OpenAI Centre