Anthropic’s monster $965 billion valuation puts it firmly ahead of OpenAI’s $850 billion valuation as the rivals head toward expected IPOs later this year.
Anthropic announced it has raised $65 billion in a series H fundraising round, with a staggering valuation of $965 billion. The round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital.
The official valuation puts Anthropic well ahead of arch-rival OpenAI’s reported $850 billion valuation as both companies jockey to be the first to pull off an IPO later this year. It also recently skipped farther ahead of OpenAI on generating annual recurring revenue.
In addition to the fundraising news, Anthropic also released Claude Opus 4.8, less than six weeks after its last version. The incremental update to Anthropic’s flagship AI model ekes out better benchmark score for agentic coding tasks, multidisciplinary reasoning, and financial analysis.
The company says Opus 4.8 is more “honest,” and is less likely to be overconfident and make claims that it cannot support.
The release rolls out a few new features as well. “Effort control” allows users to control how much effort Claude exerts for a response — where a greater effort could result in a higher cost for the user.
For longer, more complex tasks, Anthropic has rolled out a new feature called “dynamic workflows,” which allows for the use of hundreds of agents on tasks like huge code migrations. The company says Claude is the first frontier model available on all three major cloud hyperscalers: Amazon Web Services, Microsoft Azure, and Google Cloud.