Anthropic Finalizes $65B Round, Pushing Valuation to $965B Amid Compute Expansion

Anthropic has closed a massive $65 billion Series H funding round, elevating its post-money valuation to $965 billion. The new valuation places the AI company ahead of its chief rival, OpenAI, which was last valued at $852 billion in March. The round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, with firms like Capital Group, Coatue, and Blackstone also participating.

A significant portion of the deal, $15 billion, comes from previously arranged investments from cloud providers, including a $5 billion commitment from Amazon. This new capital arrives as Anthropic's revenue growth accelerates sharply. The company reports its annual run-rate revenue surpassed $47 billion in June 2026, a major jump from $30 billion earlier in the year and just $9 billion at the end of 2025. This growth is being driven by the adoption of its Claude AI assistant in enterprise and consumer products.

Strategic Capital Allocation for Compute Scaling

A primary goal for the new funding is to dramatically expand the compute capacity needed for training and running its AI models. To keep up with demand, Anthropic has secured several large-scale infrastructure deals. These include an agreement with Amazon for up to five gigawatts of compute capacity and a parallel deal with Google and Broadcom for another five gigawatts of next-generation TPU capacity. For GPU access, the company has also partnered with SpaceX to use its Colossus 1 and Colossus 2 facilities.

To better secure its hardware supply chain, Anthropic also brought key chipmakers Micron, Samsung, and SK hynix on as strategic investors. As a result of these alliances, the company's Claude models are now available across all three major cloud platforms: Amazon Web Services (AWS), Google Cloud, and Microsoft Azure, with AWS remaining its primary partner for cloud infrastructure and model training.

Concurrent Model Pipeline Advancements

Alongside the funding news, Anthropic released an update to its flagship model, Claude Opus 4.8. The company says the new version shows improved performance on complex coding tasks and executes long-running workflows more consistently. Anthropic is also developing a specialized model called Claude Mythos, which is focused on cybersecurity applications. Access to Mythos is currently restricted as the company finalizes its safety systems, reflecting its cautious strategy for deploying models with sensitive capabilities.

Anthropic is also expanding its physical footprint, opening a new office in Milan, Italy, its sixth in Europe. This Series H is widely seen as the company’s final private capital raise before a potential initial public offering, although no official timeline has been announced.