Anthropic overtakes OpenAI to become most valuable AI company

Move over, OpenAI. There's a new leader in the AI industry.

Anthropic announced on Thursday that it had raised $65 billion in funding from investors led by Altimeter Capital, Greenoaks, Dragoneer, and Sequoia Capital.

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This fundraising round puts Anthropic's valuation at nearly one trillion dollars, or $965 billion to be exact. OpenAI, long seen as the face of the AI industry after its AI chatbot ChatGPT was launched, was last valued at $852 billion back in March. According to the New York Times, the new valuation makes Anthropic the most valuable privately held AI company in the world (companies like NVIDIA and Google have surpassed the $1 trillion mark).

Anthropic has now usurped OpenAI in the AI race when it comes to valuation — and revenue too.

In addition to the fundraising round, Anthropic announced that the company hit a $47 billion revenue run rate earlier this month. 

As CNBC points out, that’s up from Anthropic's $30 billion run rate earlier this year and $10 billion in annual revenue last year.

Earlier this week, The Information reported that OpenAI's annualized revenue run rate is around $30 billion. Anthropic's $47 billion revenue run rate is roughly 35 percent more than OpenAI's. This is certainly not the most ideal news to drop for OpenAI right before the company's planned IPO.

“Claude is increasingly indispensable to our growing global community of customers, and we work tirelessly to make tools like Claude Code and Cowork more helpful, more powerful, and more adaptable to their needs,” said Anthropic CFO Krishna Rao in a statement. “This funding will help us serve the historic demand we are experiencing, stay at the research frontier, and bring Claude to more of the places where work happens.”

So, how did this happen? It appears that OpenAI has had more of a focus on ChatGPT subscriptions from everyday consumers, whereas Anthropic has positioned Claude as a leading developer tool for businesses with products like their agentic coding assistant, Claude Code. Based on Anthropic's revenue and valuation, their business model with its AI assistant Claude seems to be working better than the competitors. 

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