After its $65B Series H, Anthropic is valued at $965B post-money, the most valuable private AI company in the world. Here's the full funding history and what's behind the number.
Figures as of July 2026. Valuation is the most recent post-money round; run-rate is an annualized company figure.
Anthropic's most recent post-money valuation is $965B, set by the $65B Series H that closed in May 2026. That is the figure most people are after when they search for its market cap. A true market cap only exists once a company's shares trade publicly, which won't happen until Anthropic's IPO.
Every disclosed round, newest first, with the post-money valuation it set.
| Round | Date | Raised | Post-money | Lead investors |
|---|---|---|---|---|
| Series H | May 2026 | $65B | $965B | Altimeter Capital, Dragoneer, Greenoaks, Sequoia Capital |
| Google strategic commitment | April 2026 | $10B | $350B | Alphabet (Google) |
| Series G | February 2026 | $30B | $380B | Undisclosed |
$65B raised · led by Altimeter Capital, Dragoneer, Greenoaks, Sequoia Capital
Co-led by Capital Group, Coatue, D1 Capital, GIC, ICONIQ, and XN. Includes $15B of previously committed hyperscaler investment ($5B from Amazon). Likely the last private round before an IPO.
$10B raised · led by Alphabet (Google)
Up to $40B committed: $10B immediate at a $350B valuation, with $30B contingent on performance targets.
$30B raised · led by Undisclosed
More than doubled valuation versus prior round.
Annualized run-rate revenue, the metric Anthropic reports publicly.
The two leading private AI labs are valued on very different revenue multiples. Anthropic is now both more valuable and trading on a lower multiple of revenue, a reversal from a year earlier.
| Company | Valuation | Revenue run-rate | Implied multiple | As of |
|---|---|---|---|---|
| Anthropic (this page) | $965B | $47B | ~21× | July 2026 |
| OpenAI | $852B | $25B | ~34× | April 2026 |
Sources: latest post-money rounds and Sacra reporting. Private valuations are set at funding events, not by a live market.
More on OpenAI's valuation, IPO, and how to invest is available at OpenAI Stock.