Anthropic announced the completion of a $65 billion Series H funding round, bringing its post-money valuation close to $1 trillion. This funding round comes as the company moves forward with its IPO preparations, highlighting the accelerating competition among leading generative AI companies for funding, computing power, and commercialization capabilities.

Multiple institutions and chip manufacturers participated in the investment.

This funding round was co-led by Altimeter Capital, Dragoneer, Greenoaks, Sequoia Capital, Capital Group, Coatue, and D1 Capital Partners. Baillie Gifford, Blackstone, Brookfield, DST Global, and Fidelity Management & Research also participated.

Infrastructure partners such as Samsung, SK Hynix, and Micron also joined this funding round. Anthropic stated that $15 billion of this funding comes from previously committed investments, covering contributions from multiple hyperscale cloud service providers; Amazon, for example, announced a $5 billion investment in April of this year.

New funds will be invested in computing power and security research.

Anthropic stated that the new funding will be used to advance research on model security and interpretability, expand computing resources to meet Claude's continued growth needs, and further expand the products and collaborations that customers are using.

On the same day the funding announcement was made, the company also released Claude Opus 4.8, a new model that emphasizes proxy tasks, complex programming capabilities, and performance with a greater focus on honesty and self-correction. The report also stated that Anthropic plans to more widely release models on par with its cybersecurity model, Mythos, which was previously only available in limited quantities due to security concerns.

Enterprise customer growth drives up valuation expectations

Anthropic stated that its growth has accelerated further since its last funding round, particularly among enterprise clients using Claude Code. The company said earlier this month its annualized revenue exceeded $47 billion.

The Wall Street Journal previously reported that Anthropic expects revenue to grow by 130% and is on track to achieve its first operating profit. Currently, Anthropic and OpenAI are engaged in fiercer competition over fundraising and user growth, with both preparing for their respective IPOs.

Additional information:The TechCrunch article mentions that OpenAI completed a $122 billion funding round in March of this year, with a post-money valuation of $852 billion; the entity formed by the merger of Musk's SpaceX and xAI is also pushing forward with an IPO, targeting a valuation of $2 trillion.