With only months remaining before a potential IPO, Anthropic stunned Silicon Valley with an almost frenzied capital achievement. The startup, founded on "AI safety," not only closed one of the largest private financings in history but also surpassed long-time rival OpenAI in valuation for the first time.

Capital Surge: A Leap from $380B to Nearly $1T

On May 28, 2026, Anthropic officially announced the completion of its Series H financing, with a final amount of $65 billion and a post-money valuation of $965 billion (about RMB 6.5 trillion). This figure not only brings it close to the "trillion-dollar club" but also breaks the record set by OpenAI in March, making it the world's highest-valued private artificial intelligence company.

This valuation represents approximately a 154% increase from the $380 billion valuation at its Series G round in February, a surge achieved in just three months. Such rapid growth reflects the market's near-frenzied appetite for core AI assets.

The round was led by top firms including Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital, an "all-star" lineup.

Strategic Alliances: Not Just Capital, But Compute and Chips

The most notable aspect of this round is its deep industrial bundling. Beyond pure financial investors, Anthropic assembled a strategic investment fleet of technology giants:

Amazon's continued stake: As Anthropic's closest cloud partner, AWS confirmed its previously pledged $5 billion investment. Anthropic not only trains models using AWS's Trainium and Inferentia chips, but the two also signed a compute agreement for up to 5 gigawatts (GW) of new capacity.

Entry of the three memory giants: Micron, Samsung and SK Hynix joined the round. HBM (high-bandwidth memory) is currently the largest physical bottleneck for AI compute expansion; the support of these three suppliers suggests Anthropic is attempting to lock in control of compute expansion from the supply-chain source for the coming years.

Deep ties with Google and Broadcom: The agreement indicates Anthropic has signed a 5 GW next-generation TPU capacity deal with Google and Broadcom. In exchange, Anthropic was reported to have committed to pay Google Cloud approximately $200 billion over the next five years.

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