Anthropic overtakes OpenAI in valuation, nears $1trn milestone after massive funding round

Anthropic has emerged as the most valuable artificial intelligence startup in Silicon Valley after securing a massive new funding round that places its valuation close to $1 trillion, overtaking rival OpenAI.

The AI firm announced on Thursday that it had raised $65 billion in a Series H financing round, pushing its valuation to $965 billion – nearly triple its valuation earlier in the year. The new figure places it ahead of OpenAI, which was valued at $852 billion after its own major fundraising round in March.

The latest investment round was led by major global investors including Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, alongside $15 billion in previously committed funding. This includes a $5 billion commitment from Amazon, underscoring strong institutional backing for the company’s rapid expansion.

Anthropic’s meteoric rise has been driven by surging demand for its AI tools, particularly its widely used coding assistant, Claude Code. The company also reported a $47 billion annualised revenue run rate, up sharply from $30 billion earlier this year and just $10 billion last year.

Alongside the funding announcement, Anthropic unveiled its latest model, Claude Opus 4.8, as well as a preview of Claude Mythos, a specialised version designed for advanced cybersecurity applications and currently limited to select enterprise users.

According to Anthropic Chief Financial Officer Krishna Rao, the new funding will support the company’s efforts to meet growing global demand and continue advancing its research.

“Claude is increasingly indispensable to our growing global community of customers,” Rao said, adding that the company is focused on expanding capabilities such as Claude Code and other workplace AI tools.

The development comes as competition intensifies among leading AI developers, many of which are now preparing for public listings.

Market observers say the funding frenzy reflects growing investor confidence in generative AI and enterprise automation, as well as expectations that leading firms will dominate future digital infrastructure.

OpenAI, led by CEO Sam Altman, is reportedly preparing a confidential initial public offering filing in the coming weeks, with a potential listing as early as September, according to industry sources.

Meanwhile, Anthropic is also believed to be exploring its own IPO preparations, although the timeline remains uncertain.

Elsewhere in the AI race, Elon Musk’s AI ventures have also drawn attention after restructuring moves and filings linked to a possible public offering, further signalling that the sector is heading toward a new phase of market competition.

Analysts say the rapid valuation jumps across leading AI companies highlight both extraordinary growth potential and rising concerns over whether current investor enthusiasm can be sustained in the long term.