Anthropic, the San Francisco artificial intelligence company behind the Claude chatbot, said Thursday that it raised $65 billion in a private funding round, catapulting its valuation to $965 billion and surpassing OpenAI, the creator of ChatGPT, in both market value and reported revenue.
The company said it is now generating annualized revenue of $47 billion, driven by businesses and individuals paying for Claude’s ability to write code, generate text, and perform other tasks. Anthropic’s rapid revenue growth and $65 billion funding haul — one of the largest private capital raises in the technology sector — signal intense investor appetite for large language model companies.
Anthropic was launched in 2021 by former OpenAI leaders, including Dario Amodei, and has since emerged as OpenAI’s most direct competitor. The two firms and Elon Musk’s rocket and AI company SpaceX are all now expected to become publicly traded, a milestone that would rank among the largest tech initial public offerings in history.
Yet all three companies remain deeply unprofitable. Anthropic did not disclose its net losses, but its spending on computing infrastructure and talent is widely understood by analysts to exceed its surging revenue. That gap — a pattern shared by many AI startups — has fanned concerns that the sector’s soaring valuations may not be supported by sustainable economics, with some market observers warning of an AI bubble.