Anthropic raises $65 Billion, nears $1T valuation ahead of IPO

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Anthropic has secured a $65 billion Series H at a $965 billion post-money valuation — almost certainly its last private raise before a public offering. The round was co-led by Altimeter Capital, Dragoneer, Greenoaks, Sequoia Capital, Capital Group, Coatue, and D1 Capital Partners, with Baillie Gifford, Blackstone, Brookfield, D.E. Shaw Ventures, DST Global, and Fidelity among institutional participants. Samsung, SK Hynix, and Micron joined as strategic infrastructure partners. $15 billion of the total comes from previously committed hyperscaler investments, including Amazon's $5 billion pledge announced in April. Demand was reportedly intense: one institutional investor pledged $5 billion just to secure a meeting with CFO Krishna Rao. The round significantly exceeds the $50 billion figure reported just a month ago. On business fundamentals, Anthropic reports its revenue run rate crossed $47 billion earlier in May. The Wall Street Journal has reported a forecast of 130% revenue growth that would bring the company to its first operating profit. Enterprise adoption — particularly through Claude Code — is cited as the primary growth driver. Competitively, OpenAI raised $122 billion at an $852 billion valuation in March; SpaceX, which merged with xAI, is targeting a $2 trillion IPO. Anthropic plans to deploy the capital on safety research, compute expansion, and enterprise product scaling. Claude Opus 4.8, focused on agentic capabilities and honesty, launched the same day as this announcement.