Generative AI business Anthropic has raised $65 billion in Series H funding led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital.

The round values Anthropic at $965 billion post-money, above OpenAI's $852bn valuation in March. This is the first time that the company has been worth more than its rival.

– Sebastian Moss

The new round was co-led by Capital Group, Coatue, D1 Capital Partners, GIC, Iconiq, and XN. Investors include AMP PBC, Baillie Gifford, Blackstone, Brookfield, D.E. Shaw Ventures, DST Global, Fidelity Management & Research Company, General Catalyst, Insight Partners, Jane Street, Lightspeed Venture Partners, MGX, NTTVC, NX1 Capital, Situational Awareness LP, T. Rowe Price Associates, Inc., T. Rowe Price Investment Management, Inc., and Temasek.

It also includes $15 billion of previously committed investments from hyperscalers, including $5bn from Amazon.