Anthropic valued at $965 billion after raising $65 billion in latest round

May 28 (Reuters) – Anthropic said on Thursday it has raised $65 billion at a post-money valuation of $965 billion, ​as it seeks to expand computing capacity to meet growing ‌demand for chatbot Claude and scale its products.

The new valuation after the series H funding round puts Anthropic ahead of rival OpenAI, which was last valued at $852 ​billion post-money in March.

“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,” Anthropic said in a blog ​on its website. It was valued at $380 billion in February, after raising $30 ​billion.

Anthropic’s pursuit of private funding coincides with preparations for a public listing, according to investors and bankers familiar with the company.

Both Anthropic and OpenAI are planning to tap ​the public market, possibly as quickly as this year, to acquire ​the computational resources necessary to power their services and train new models.

Anthropic has struggled ‌to ⁠meet demand in recent months, forcing it to institute usage limits during peak hours and incentivize off-peak use by offering more compute during those hours.

Its latest funding round was led by Altimeter Capital, Dragoneer, Greenoaks and ​Sequoia Capital, with Coatue ​and ICONIQ ⁠as co-leads, among others.

Anthropic’s strategic infrastructure partners Micron (MU.O), opens new tab, Samsung (005930.KS), opens new tab and SK Hynix (000660.KS), opens new tab also joined the investment round.

The round ​comprises $15 billion of previously committed investments from hyperscalers, including $5 ​billion from ⁠Amazon (AMZN.O), opens new tab.

Amazon had said in April it would invest up to $25 billion in Anthropic, as the AI startup commits to spending more than $100 billion over the ⁠next ​10 years on Amazon’s cloud technologies. This ​is in addition to the $8 billion Amazon previously invested in the company.