Anthropic raises $65B in Series H funding at $965B post-money valuation

GenerWork

As someone who knows admittedly knows nothing about startup funding rounds, how many more rounds of funding can they do before an IPO? Is it effectively infinite?

cmiles8

Probably the bigger headline here is that they’ve blown past OpenAI in revenue and valuation, with OpenAI looking increasingly shaky and vulnerable.

Lionga

Boys we got more subsidy for Claude Code Plans! Let the VC financed spending of 1000$ of datacenter cost for 200$ sales price continue!

whalesalad

They're going to run out of letters pretty soon.

iooi

So close to being the first kilocorn. A unicorn = 1 billion, this is almost 1k.

4ashga

That announcement is a bit short on details. I suppose that, like in the previous rounds, there are some strings attached and they'll not get all of it at once. Hynix is participating with a new circular deal. Hynix is also valued at $1 trillion now, which is positively insane. This scam will implode harder that the housing bubble.

8f2ab37a-ed6c

Say you join Anthropic now as an employee. What are the chances of your equity appreciating in value? I don't think we have any historical precedents to this.

aanet

I'll have some of that joint they be smokin' /s

mutator

This did round involve a secondary? If yes, any data to suggest that these secondaries are leading to increased spending outside of housing and propping up the local economy?

topherPedersen

Anthropic has a great product, but what's going on in the stock market is astonishing. Companies waiting to be valued at a trillion dollars before going public? (I'm writing this comment with the assumption that they will go public soon and the valuation will be higher than this $965 billion dollar private valuation) The stock market used to be a place for companies to raise money from investors. But that isn't what it is anymore, it's a dumping ground. Venture capitalists & private investors are sucking all of the possible growth and future upside from these companies and then dumping them on retail investors when there's nothing left. There is no growth or upside left by the time these companies go public. If you invest in these IPOs you are buying the absolute peak with all potential future profits baked into the price, with nowhere left to go but down.

malthaus

nice, that's another 4 years of spacex data center usage runway!

bix6

This is all getting a bit tiring. Show us the S1 already!

maxnevermind

What is this, Series for ants? It barely covers Andrej's sign-on bonus.

mettamage

I wish I could invest into it, I'd at the very least have invested in their Series F. It was a no brainer by that point. If anyone could teach me how to get into stuff like this, that'd be awesome. I'm from the Netherlands, so not American. Though I'm married to an American.

wg0

That you all have to pay of course. With interest. Directly or indirectly. Through subscriptions or through pension funds and such.

simonw

> Since our Series G in February, adoption has continued to grow across global enterprise customers, and our run-rate revenue crossed $47 billion earlier this month. OK, so their self-reported run-rate revenue hit $47bn in early May. For comparison: Apr 6th 2026: https://www.anthropic.com/news/google-broadcom-partnership-c... - "Demand from Claude customers has accelerated in 2026. Our run-rate revenue has now surpassed $30 billion—up from approximately $9 billion at the end of 2025." So that's $30bn at the start of April. Feb 12th 2026: https://www.anthropic.com/news/anthropic-raises-30-billion-s... - "Today, our run-rate revenue is $14 billion, with this figure growing over 10x annually in each of those past three years." That was $14bn on Feb 12th. And $9bn in December (according to the above April 6th link.)

jameson

Does this mean no IPO this year? What are the likely chances a company at this stage needs two rounds of funding within a year?

eutropia

What is run-rate revenue and how is it different than revenue (classic)?

jordemort

I’m sorry, H? How much farther down the alphabet do they plan to go before anyone gets any of that money back?

mark_l_watson

Until Anthropic, OpenAI, and Tesla have IPOs and are then bound by some laws to be truthful, I don’t want to bother about their possible valuations. I do care about: how useful their products are vs. cost and how secure are their businesses. Actually I only care about the first thing since these services are hot swap-able with some effort.