Anthropic's valuation surges to $965 billion, surpassing OpenAI

May 28 (Reuters) - Anthropic said ‌on Thursday it ​has ​raised $65 billion at a post-money valuation of $965 billion, as it aims to bolster 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 OpenAI, last valued at $852 billion post-money in March, intensifying ‌a fierce battle between the ‌two for dominance in the rapidly evolving AI sector.

Anthropic's valuation has more than doubled from $380 billion in February, reflecting its swift rise as a ​leading competitor in the AI race and intense investor demand for stakes in frontier companies.

"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.

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 that time.

Its latest 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, Samsung and SK Hynix also joined the round, which comprises $15 billion of previously ‌committed investments from hyperscalers, including $5 billion from Amazon.

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 Amazon's previous $8 billion investment.

(Reporting by Juby Babu in Mexico City and Deepa Seetharaman in San Francisco; Editing by ‌Shilpi Majumdar)

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