Anthropic has officially surpassed its primary rival, OpenAI, in both valuation and revenue, reaching $965 billion and $47 billion, respectively.
Back in April, OpenAI announced that it had raised $122 billion in funding at a post-money valuation of $852 billion. Anthropic, on the other hand, announced a $30 billion Series G at a $380 billion post-money valuation in February of this year.
Thanks to a surge in Claude usage across global enterprise customers, Anthropic revealed in April that its run-rate revenue had crossed $30 billion, up from approximately $9 billion at the end of 2025. This revenue figure was already well ahead of OpenAI’s annual run-rate at the time, which was around $24 billion.
Today, Anthropic announced that it has raised $65 billion in a new Series H funding round, valuing it at $965 billion post-money. The round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital. The company revealed that its run-rate revenue crossed $47 billion earlier this month. In just about seven weeks, Anthropic’s revenue has grown by more than 50%. With this milestone, Anthropic has beaten OpenAI, its chief rival, in both valuation and revenue.
Anthropic announced that its new funding will be used to fund research and development, expand compute capacity to meet the demand for Claude, and scale the products and partnerships used by its customers. Anthropic also mentioned that this round includes $15 billion in previously committed investments from hyperscalers, including $5 billion from Amazon.
The round was co-led by the following companies:
Capital Group, Coatue, D1 Capital Partners, GIC, ICONIQ, and XN. Significant investors in this round include AMP PBC, Baillie Gifford, Blackstone, Brookfield, D.E. Shaw Ventures, DST Global, Fidelity Management & Research Company, General Catalyst, Insight Partners, Jane Street, Lightspeed Venture Partners, MGX, NTTVC, NX1 Capital, Situational Awareness LP, T. Rowe Price Associates, Inc., T. Rowe Price Investment Management, Inc., and Temasek.
In addition to the financial investors mentioned above, Anthropic is bringing in Micron, Samsung, and SK hynix as strategic infrastructure partners. These companies are critical to the AI infrastructure supply chain, specifically memory, storage, and chip supply chains, which are becoming increasingly important as frontier AI labs compete for compute.
