Anthropic has achieved a $965 billion valuation, surpassing OpenAI's latest valuation in a sign of intensifying competition in the AI sector. The startup's rapid ascent reflects investor demand for advanced AI models and its position as a leading rival to OpenAI.
Anthropic announced a run rate revenue of $47 billion, raised $65 billion in a Series H round, and achieved a post-money valuation of $965 billion.
Simon Willison argues Anthropic and OpenAI have found product-market fit through enterprise coding agents. Both companies shifted to API-based enterprise pricing, and recent models cost more. Stories of Uber blowing its AI budget and Microsoft canceling Claude Code licenses suggest customers are paying high prices for genuinely useful tools, making April 2026 a new revenue inflection point.