Anthropic announced on May 28, 2026 that it has closed a $65 billion Series H funding round at a $965 billion post-money valuation, vaulting the AI safety lab past rival OpenAI in private-market value just months before a widely expected public listing. The round may be Anthropic's last private fundraising before an IPO.
Inside the $65 Billion Round
The Series H was co-led by Altimeter Capital, Dragoneer, Greenoaks, Sequoia Capital, Capital Group, Coatue and D1 Capital Partners, with participation from Baillie Gifford, Blackstone, Brookfield, D.E. Shaw Ventures, DST Global and Fidelity Management & Research. Strategic infrastructure partners Samsung, SK Hynix and Micron also joined. Roughly $15 billion of the round reflects previously committed investments from hyperscalers, including a $5 billion commitment from Amazon announced in April.
Anthropic said it will use the new capital to "advance our safety and interpretability research, expand compute to meet growing demand for Claude, and scale the products and partnerships our customers rely on."
Surpassing OpenAI
The $965 billion valuation pushes Anthropic above OpenAI's $852 billion post-money price set in March, when OpenAI closed a $122 billion round. Anthropic remains shy of a private $1 trillion mark, a threshold no privately held company has crossed; SpaceX, which merged with xAI earlier this year, is targeting a $2 trillion valuation in its pending IPO and is seeking to raise more than $75 billion.
Investor enthusiasm is driven by enterprise traction around Claude and Claude Code. Anthropic reported a $47 billion run-rate this month, up from a $30 billion run-rate earlier in 2026 and $10 billion in annual revenue last year. The Wall Street Journal recently reported the startup expects a roughly 130% revenue surge that would push it to its first operating profit.
Claude Opus 4.8 Launches on the Same Day
Anthropic timed the funding announcement with the release of Claude Opus 4.8, its most capable publicly available model, which adds a Dynamic Workflows tool for orchestrating swarms of subagents. Anthropic also signaled that its most powerful Mythos-class model could move from limited preview to broader release "in the coming weeks" once safeguards are in place. Claude Mythos recently surfaced 10,000 software flaws in a Glasswing partnership, and the company's pre-training bench got deeper this month after Andrej Karpathy joined Anthropic to lead pre-training research.
An Active Week for AI Capital
The round caps a frenetic stretch of AI fundraising. Cognition raised $1B at a $26B valuation as Devin hit a $492 million ARR, OpenRouter pulled in $113M to become an AI inference control layer, and Tensormesh raised $20M to cut inference costs up to 10x using KV caching. At the listing end of the cycle, SpaceX has filed for an IPO at a record $1.75 trillion valuation.
What to Watch
With its post-money price closing in on $1 trillion, Anthropic now has the cash and credibility to widen its enterprise lead — and to test the public markets. The pace of model releases, Mythos safeguards and the timing of the IPO will be the next decisive signals.
Reporting based on coverage from TechCrunch, CNBC, Fortune and Anthropic's announcement.