Anthropic hits $965B valuation with latest funding round, overtaking OpenAI
AI startup Anthropic has reached a $965 billion valuation after its latest funding round, surpassing OpenAI in market valuation amid the intensifying AI race.
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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.
Anthropic's run-rate revenue has hit $47 billion, up from $30 billion in April and $14 billion in February 2026, according to its $65B Series H filing. The annualized figures show extremely rapid growth, though some observers have expressed skepticism about the projections.
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.