Anthropic has leapfrogged OpenAI in valuation for the first time after securing $65 billion in Series H funding at a post-money valuation of $965 billion, as the two rivals engage in a high-stakes, head-to-head battle for dominance in the frontier model market. The Claude AI maker’s latest round comes a month after the ChatGPT maker closed its latest funding round with $122 billion in committed capital at a post-money valuation of$852 billion. Anthropic’s Series H funding was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital. Capital Group, Coatue, D1 Capital Partners, GIC, ICONIQ, and XN co-led the round alongside a vast roster of investors. This group included Blackstone, D.E. Shaw Ventures, DST Global, Fidelity Management and Research Company, General Catalyst, Jane Street, Lightspeed Venture Partners, MGX, and Temasek. This funding includes the $15 billion in previously-committed capital from hyperscalers, including$5 billionfrom Amazon. Only a few months ago, Anthropic raised $30 billion in a Series G funding round, at a post-money valuation of$380 billion. At that time, OpenAI was worth more than double its rival. The near $1 trillion valuation of Anthropic shows a breathtaking pace of growth and investor confidence. The sheer scale of this funding is intended to fuel Anthropic’s most ambitious phase of growth yet. The company has said that this latest funding is expected to advance its safety and interpretability research, expand compute to meet growing demand for Claude, and scale the products and partnerships that customers rely on. To support this need, Anthropic has expanded its compute capacity by signing agreements with major infrastructure providers. These include deals with Amazon for up to five gigawatts of new capacity, alongside Google and Broadcom for five gigawatts of next-generation TPU capacity. TPUs, or Tensor Processing Units, are custom chips designed specifically to accelerate machine learning tasks. Furthermore, Anthropic has secured access to GPU capacity from SpaceX in its Colossus 1 and Colossus 2 facilities. “Claude is increasingly indispensable to our growing global community of customers…,” said Krishna Rao, chief financial officer of Anthropic. “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.” This momentum is supported by strong financial performance. Earlier this month, the company’s run-rate revenue crossed $47 billion. This rapid scaling is largely driven by global enterprises deploying Claude in their core operations. The competition between Anthropic and OpenAI is not merely a battle of balance sheets but is deeply rooted in the history of the industry. Anthropic was founded in 2021 by a sibling duo, Dario and Daniela Amodei, who were formerly high-ranking researchers and executives at OpenAI. They were joined by several other core safety researchers who left OpenAI following
