Anthropic Raises $65B Series H, Surpasses OpenAI at $965B Valuation
Anthropic announced on May 28 the closure of a $65 billion Series H funding round, valuing the company at $965 billion post-money and making it the most valuable private AI company on Earth. The round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, with participation from Singapore's GIC and other institutional investors.
The financing positions Anthropic ahead of OpenAI's current $852 billion private valuation and is widely seen as the company's final private fundraise before a highly anticipated IPO. Reports suggest Anthropic is targeting an October 2026 public listing. The company reported $47 billion in annualized revenue, driven by enterprise API adoption of its Claude model family.
Proceeds will fund compute infrastructure expansion, safety research, and scaling Claude's enterprise capabilities across coding, analysis, and agentic workflows. The raise reflects institutional investor confidence in Anthropic's constitutional AI approach and its growing market share in the enterprise AI segment, where Claude has become the preferred model for regulated industries including healthcare, finance, and government.
PitchBook noted this marks the largest single venture round in history, underscoring the capital intensity required to compete at the AI frontier. The valuation also reflects Anthropic's strategic acquisitions — including the $300M purchase of Stainless earlier in May — that are consolidating developer tooling infrastructure under its control. For enterprise buyers, Anthropic's trajectory suggests it will be a dominant force in AI procurement decisions for years to come.
This raise signals that the AI infrastructure race is entering a new phase where only companies with massive capital bases can compete. For MENA builders, the implication is clear: the model layer is consolidating fast, and competitive advantage lies in application-level innovation on top of these foundation models.
What is Anthropic planning to do with the $65B raise?
The company plans to invest in compute infrastructure expansion, AI safety research, and scaling its Claude enterprise product ahead of a reported October 2026 IPO.
How does this compare to OpenAI's valuation?
Anthropic's $965B post-money valuation surpasses OpenAI's current $852B private valuation, making Anthropic the most valuable private AI company globally.