Anthropic closes $65B Series H at $965B valuation, surpassing OpenAI as the most valuable AI startup
Anthropic closed a $65B Series H led by Altimeter, Dragoneer, Greenoaks, and Sequoia at a $965B post-money valuation — with run-rate revenue crossing $47B in May 2026, the raise is grounded in real revenue, not projection. The round's structure tells the deeper story: $15B from cloud providers, named chip-supply deals with Micron, Samsung, and SK hynix, and 10 GW of compute pledged across Amazon and Google/Broadcom TPUs — a capital architecture built around locking in hardware supply chains, not just deploying cash.
Source: anthropic.com ↗
Claude is the first frontier model available on all three of the world's largest cloud platforms: Amazon Web Services, Google Cloud, and Microsoft Azure.
Anthropic
Why this matters
- → Anthropic's $47B run-rate revenue grounds a $965B valuation in actual customer spending, not speculation.
- → Secured 10 GW of compute and chip supply deals lock in hardware access critical for scaling AI inference.
- → Surpassing OpenAI's valuation signals investor confidence that Anthropic's safety-focused approach drives enterprise adoption.
Revenue backs valuation