Anthropic raises $65B Series H at $965B valuation as run-rate revenue tops $47B

Anthropic closed a $65 billion Series H funding round on May 28, 2026, at a $965 billion post-money valuation — the highest valuation ever recorded for a private AI company. The round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, with Capital Group, Coatue, D1 Capital Partners, GIC, ICONIQ, and XN as co-leaders.

What's new

The numbers

• $65 billion raised in the Series H
• $965 billion post-money valuation
• Run-rate revenue exceeding $47 billion at time of announcement — a sharp acceleration from earlier in 2026
• Compute infrastructure commitments from Amazon, Google, Broadcom, and SpaceX in addition to capital investment

Use of proceeds Anthropic stated the capital will advance its safety and interpretability research, expand compute capacity to meet growing demand for Claude, and scale products and partnerships globally.

Investor composition The round brings a broad institutional base. Notable additions include sovereign wealth fund GIC and growth equity investors D1 Capital Partners, Greenoaks, and XN, alongside existing backers Sequoia Capital, Coatue, and ICONIQ Growth.

Context

This Series H follows Anthropic's Series G closed in late 2025 and arrives as enterprise demand for Claude across coding, legal, and agentic workflows has accelerated substantially. One week after the raise, on June 1, Anthropic disclosed it had confidentially filed a draft S-1 with the SEC, signaling a potential IPO on the horizon.

The compute partnerships — particularly with Amazon — deepen an existing cloud infrastructure relationship. Amazon Web Services has been Anthropic's primary cloud partner and a major prior investor. The Broadcom and SpaceX commitments add hardware and satellite-connectivity dimensions to the infrastructure picture.

For scale context: Anthropic's reported $47 billion run-rate revenue implies dramatic growth from the roughly $4 billion annualized figure the company reported in mid-2024. The $965 billion valuation exceeds OpenAI's most recent $300 billion private valuation by more than 3×, though the two companies are at different revenue scales.

Why it matters

A near-trillion-dollar valuation for a frontier AI safety lab represents a fundamental repricing of how financial markets view the sector. For enterprise buyers, the capital injection signals Anthropic's capacity to sustain training compute investment through the next model generation — a practical consideration when building long-term production dependencies on a model family.

The explicit inclusion of safety and interpretability research in the use-of-proceeds language is noteworthy. Anthropic is publicly framing frontier capability and safety investment as complementary, not competing, uses of capital.

For the broader market, this round sets a new benchmark for AI company fundraising. It will likely accelerate competitor timetables: companies that previously deferred Series expansions may move sooner in response to the signal that investors are pricing transformative AI potential at unprecedented multiples.