Anthropic raises $65B at $965B valuation, surpassing OpenAI
Anthropic closed a $65 billion Series H round at a $965 billion valuation on May 29, more than doubling its February $380 billion mark and overtaking OpenAI's $852 billion cap.
Anthropic closed a $65 billion Series H round at a $965 billion valuation, the company announced on May 29. The figure puts the Claude maker within striking distance of a trillion-dollar cap and more than doubles the $380 billion valuation it carried in February.
The round vaults Anthropic past OpenAI's most recent $852 billion valuation, marking the first time the San Francisco–based lab has led its rival on paper. Anthropic declined to name lead investors or detail the round's structure, though the company has historically drawn backing from Google, Spark Capital, and Salesforce Ventures.
The climb
Anthropic's valuation has climbed 154 percent since February. OpenAI's $852 billion mark dates to its own Series G earlier this year. Both companies now sit well above the $100 billion threshold that defined the AI funding boom's early phase, and Anthropic's latest raise is the largest single round disclosed by a frontier-model lab in 2026.
The Series H designation places Anthropic among a small cohort of venture-backed companies to reach an eighth institutional round before exit. The company has not announced plans for an IPO or acquisition, and its revenue figures remain private. Claude, Anthropic's flagship conversational model, competes directly with OpenAI's GPT-4 family and Google's Gemini in the enterprise API market.
