Anthropic closes record $65B Series H at a $965B valuation
Anthropic's Series H lands at a $965B post-money valuation, cementing its lead over OpenAI as the most valuable private AI company ahead of a potential IPO.
Anthropic has closed a $65 billion Series H at a $965 billion post-money valuation, the company confirmed. It is the largest private financing in the AI sector to date and likely its final round before the public markets.
Key points
- $965B post-money valuation, up from $380B at the Series G in February 2026.
- $65B raised, co-led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital.
- Includes $15B of previously committed hyperscaler capital, among it $5B from Amazon.
- Run-rate revenue crossed ~$47B earlier in May, the company said.
Why it matters
The raise vaults Anthropic past OpenAI’s last reported $852B valuation, making it the most valuable private AI company in the world. With a confidential S-1 already filed, the Series H looks like a final top-up of the balance sheet before an IPO.
For investors who can’t access private shares, the most direct public proxies remain Amazon (AMZN) and Alphabet (GOOGL), both strategic backers with meaningful equity stakes. See our how to invest guide for the full breakdown.