Anthropic just did something that would have seemed absurd two years ago. It passed OpenAI in valuation.
The Claude-maker closed a $65 billion Series H funding round on May 28, 2026, pushing its valuation to $965 billion. That puts it comfortably ahead of OpenAI, which was last valued at $852 billion during its March 2026 raise. The gap between the two, roughly $113 billion, is larger than the market cap of most publicly traded companies.
What the “ecosystem index” actually means
Anthropic launched something called the Anthropic Economic Index back in February 2025, with its most recent major update published in March 2026. That tool analyzes millions of anonymized conversations with Claude to understand how people are using AI across the global economy. It tracks adoption patterns and economic integration, not competitive rankings against rival labs.
The investors lining up for the Series H tell their own story. Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital all participated.
