NEXT STEP DESK

Anthropic has raised $65 billion in a recent Series H funding round, valuing the artificial intelligence company at $965 billion post-money. The figure propels Anthropic ahead of rival OpenAI, which was last valued at $852 billion in March, and marks a steep climb from the $380 billion valuation Anthropic secured in February.

The round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, with Coatue and ICONIQ as co-leads. Strategic infrastructure partners Micron, Samsung, and SK hynix also participated, and the total includes $15 billion of previously committed hyperscaler investments, among them $5 billion from Amazon. Anthropic plans to use the fresh capital to advance safety research, scale compute, and broaden its product offerings.

Anthropic said its annualised revenue run rate crossed $47 billion earlier last month, driven by growing enterprise adoption of its Claude chatbot. The company has struggled to keep pace with demand, however, and recently introduced usage limits during peak hours while offering additional compute during off-peak periods to ease the strain. To expand capacity, Anthropic has signed agreements for up to five gigawatts of new cloud infrastructure with Amazon, five gigawatts of next-generation TPU capacity with Google and Broadcom, and GPU access in SpaceX’s Colossus data centres.