Anthropic · Anduril · OpenAI · Fortune Technology
Anthropic didn’t just join the Series H club, it almost became the first $1 trillion private company ever
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Two weeks ago, defense startup Anduril raised a Series H round—$5 billion at a $61 billion valuation, shocking the defense world as the largest defense-tech round in history.
Key facts
- Anthropic’s run-rate revenue crossed $47 billion earlier this month, the company said, up from a reported $7 billion in calendar 2025
- The AI startup raised $65 billion at a $965 billion valuation, eclipsing its rival OpenAI in the race to own the technology of the century
- The decacorn and hectocorn are valued about $10 billion and $100 billion, respectively
- Roughly $15 billion of the Series H consists of previously committed money from hyperscalers, including the $5 billion announced by Amazon in April
Summary
On Thursday, Anthropic had its own Series H, but one from a different planet. In venture capital-speak, a “unicorn” is a private company valued at $1 billion and above. The AI startup raised $65 billion at a $965 billion valuation, eclipsing its rival OpenAI in the race to own the technology of the century. Series H rounds are so rare that most of the companies that have raised them are recognizable names: Facebook, Lyft, Discord, Slack.