Anthropic raises $13 billion at a $183 billion valuation

Anthropic announced a $13 billion Series F round at a $183 billion post-money valuation, led by ICONIQ Capital with Fidelity Management & Research and Lightspeed Venture Partners as co-leads. Participants included Blackstone, General Atlantic, Goldman Sachs, the Qatar Investment Authority and T. Rowe Price, among other institutional investors.

The valuation was roughly three times the $61.5 billion set in Anthropic’s Series E, closed only six months earlier, and reflected the pace at which private valuations for frontier AI labs were being repriced through 2025 as enterprise adoption of large language models accelerated. Anthropic said the capital would be used to expand capacity to meet enterprise demand, deepen safety research, and support international expansion, framing the raise explicitly around Claude’s growing use inside businesses rather than solely around consumer products.

The round placed Anthropic in the same tier of private valuation as OpenAI, whose own funding rounds through the year had pushed it into the hundreds of billions of dollars, underscoring how much of the capital flowing into AI in 2025 was being absorbed by a small number of frontier labs racing to fund the compute needed to train and serve their models. Anthropic’s revenue growth over the period, driven substantially by coding and enterprise-API use of Claude, was the underlying justification investors cited for the markup, though as with comparable rounds at other labs the company disclosed no audited figures alongside the announcement.

The size and speed of the raise — a near-tripling of valuation inside two quarters, without an intervening product event as large as a flagship model launch — illustrated how much of the 2025 AI funding market had come to price expected future compute needs and enterprise contract growth rather than existing revenue multiples typical of earlier software financing rounds.