Elon Musk-Backed Anthropic Overtakes OpenAI As Valuation Nears $1 Trillion

AI start-up Anthropic, backed by billionaire Elon Musk, has become one of the most valuable private technology company in the world. The feat comes after raising a $65 billion Series A round led by a large number of investors that includes Tesla’s founder.

Elon Musk’s SpaceX Partner Anthropic Raises $65 Billion

The firm has surpassed OpenAI in valuation after raising a massive funding round from a large group of investors that included Tesla’s founder.

The latest capital raise was announced within months after Anthropic finished a separate $30 billion financing round with a valuation of $350 billion. It represents unprecedented surge in investor interest in AI businesses, experts say.

Altimeter Capital, Dragoneer and Greenoaks Capital were the lead investors with participation by Capital Group, Coatue, D1 Capital Partners, GIC, ICONIQ and XN. The round included other investors including Fidelity, Blackstone, Jane Street, Temasek, General Catalyst, and Lightspeed Venture Partners.

It now has a valuation higher than OpenAI’s estimated post-money value of $852 billion after its $122 billion fundraising round.

Accelerating adoption of its AI assistant Claude is fuelling Anthropic’s success, per analysts. Claude especially gained traction among enterprise customers who have started to use it to assist with operational tasks, coding, research and workflow automation.

Company & Executives Share Official Statement

In a statement, the company said, “Global enterprises across industries are deploying Claude in their core operations, and a growing number of people around the world use it for their everyday work.”

Anthropic also announced earlier this month that revenue grew more than fivefold this year to over $47 billion annually.

The fresh capital will be utilized to build up computing infrastructure, scale partnerships after SpaceX collaboration. Further, it has continued investing in AI safety and interpretability research, the firm said.

Chief Financial Officer Krishna Rao indicated that the demand for Anthropic’s products is now at an massive level. “Claude is increasingly indispensable to our growing global community of customers, and we work tirelessly to make tools like Claude Code and Cowork more helpful, more powerful, and more adaptable to their needs,” Rao said.

Anthropic also revealed recently that it had also expanded its computing power with deals from Wall Street giants. These include Amazon, Broadcom, Google, and Elon Musk’s SpaceX. Earlier, Amazon has already invested $5 billion in it.

“Claude’s latest advancements have driven large-scale adoption among the world’s most demanding organizations,” said Altimeter Capital CEO Brad Gerstner.

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