Anthropic soars to $965bn valuation, leapfrogging OpenAI

Anthropic, the maker of the Claude AI chatbot, has secured $65 billion in new funding, elevating its valuation to $965 billion and overtaking OpenAI, which holds an $852 billion valuation. The funding round was led by Altimeter Capital, Greenoaks, Dragoneer, and Sequoia Capital, positioning Anthropic as the world’s most valuable AI company ahead of potential public listings. The San Francisco-based firm, founded in 2021 by former OpenAI researchers including CEO Dario Amodei, announced the funding on Thursday. Anthropic’s Chief Financial Officer, Krishna Rao, stated the investment will help meet surging demand and advance research, aiming to expand Claude’s reach in professional settings. CEO Brad Gerstner of Altimeter Capital praised Claude’s adoption by top organizations, calling it evidence of Anthropic’s leadership in AI innovation. Claude, launched in 2023, has seen rapid growth, with over 1 million new sign-ups daily as of March. The latest model, Opus 4.8, was unveiled on Thursday, described as a modest but meaningful upgrade. Anthropic’s rise has been marked by both rapid success and challenges, including a dispute with the U.S. government over military access restrictions, which labeled the company a ‘supply chain risk.’ Analysts, including Jay R. Ritter of the University of Florida, highlight Anthropic’s dominance in enterprise AI applications, particularly for software coding. Ritter noted the unprecedented valuation surge for a startup, though he acknowledged comparisons to publicly traded tech giants like Nvidia and Alphabet. The company’s upcoming IPO, along with those of OpenAI and SpaceX, is expected to be among the largest in history, reflecting the intense competition and high stakes in AI development. While concerns linger about potential market bubbles, Ritter suggests only a handful of AI firms will emerge as long-term leaders. Anthropic’s trajectory underscores its ambition to capture the vast opportunities in AI, leveraging its strong product and strategic investments to solidify its position in the industry.