Anthropic valuation: $965 billion after Series H, ahead of OpenAI’s $852 billion

Figures checked against official announcements and filings on October 18, 2026.

Anthropic’s last official valuation is $965 billion, set by its $65 billion Series H announced on May 28, 2026. OpenAI’s last official figure is $852 billion, from the round it said it closed on March 31, 2026. Neither company is listed yet, so both numbers are private-market prices, and both companies have only confidentially submitted draft IPO filings.

Figures checked on October 18, 2026. Everything below is split into what the companies themselves announced and what is only reported.

Anthropic’s valuation today: $965 billion, and no newer official number

Anthropic announced the Series H on May 28, 2026: $65 billion at a $965 billion post-money valuation. The lead investors were Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital. Anthropic said the round included $15 billion in previously committed hyperscaler investments, among them $5 billion from Amazon.

Post-money means the value after the new money is counted. Anthropic has not published any valuation since. Any figure above $965 billion that circulates today, including numbers tied to the IPO, comes from press reports or from market speculation, not from the company.

In the same announcement Anthropic said its run-rate revenue “crossed $47 billion earlier this month.” Run-rate is the company’s own unaudited measure and is not the same as audited annual revenue. For a closer look at the round, see our piece on Anthropic’s $65 billion funding round.

Anthropic valuation history: four rounds, from $61.5 billion to $965 billion

Anthropic’s own announcements give the following sequence. Each row was read on the company’s website.

Sources for the table: Anthropic’s Series E, Series F, Series G and Series H announcements, listed below. Earlier rounds are not covered here.

Read over time, the valuation rose roughly sixteen-fold in about 15 months, from $61.5 billion in March 2025 to $965 billion in May 2026. The gap between Series G and Series H alone was under four months. Anthropic said run-rate revenue was $14 billion at Series G, which it described as growing over 10x annually for three years.

Anthropic investors: who is named in the official announcements

The Series H announcement names Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital as leads, with Capital Group, Coatue, D1 Capital Partners, GIC, ICONIQ and XN as co-leads. Other participants Anthropic listed include AMP PBC, Blackstone, Fidelity, Temasek and Jane Street, “among others.” Micron, Samsung and SK hynix joined as strategic infrastructure partners.

Earlier rounds brought in Lightspeed (Series E lead), ICONIQ (Series F lead), and GIC and Coatue (Series G leads). Our Anthropic stock guide covers the wider investor list, including the corporate partners Amazon, Microsoft and Nvidia.

Anthropic has not published ownership percentages or a full cap table, so any share-of-company figure for a named investor is not official.

OpenAI valuation history: from $300 billion to $852 billion

OpenAI’s announcements, as relayed in the sources below, run as follows. OpenAI’s own pages were not retrievable for this check, so the rows rely on the OpenAI post text shown in search results and on news coverage and our own earlier guide, and are marked accordingly.

OpenAI wrote on X that it had “closed our latest funding round with $122 billion in committed capital at an $852B post-money valuation.” CNBC and Yahoo Finance carried the same figures. Reports also say OpenAI extended participation to individual investors through bank channels and raised about $3 billion that way, according to coverage of the announcement.

Employee share sales are a separate matter. A sale at around $500 billion in October 2025 was reported by the Wall Street Journal and others, according to our OpenAI stock guide, and OpenAI has not framed it as a funding round.

Anthropic vs OpenAI valuation: the official numbers side by side

On the last official figures, Anthropic ($965 billion, May 28, 2026) is above OpenAI ($852 billion, March 31, 2026). Two cautions apply. The rounds were two months apart, so the comparison is not same-day. And the two companies raised very different amounts: $65 billion for Anthropic against $122 billion in committed capital for OpenAI.

Anthropic’s valuation rose about 2.5 times between Series G and Series H, while OpenAI’s moved from $730 billion pre-money to $852 billion post-money within weeks in early 2026. The figures measure what investors paid, not audited earnings or assets.

Anthropic net worth and ownership: what the companies disclosed

“Net worth” is not a figure either company publishes. Valuation is the price investors paid for shares in a round. Neither Anthropic nor OpenAI has released audited financials publicly.

For OpenAI, Microsoft’s own blog on October 28, 2025 says its investment was “valued at approximately $135 billion” and represented “roughly 27 percent on an as-converted diluted basis,” inclusive of all owners including the OpenAI Foundation. Microsoft previously held 32.5 percent. Those percentages predate the 2026 rounds, which dilute every earlier stake.

Anthropic is a Delaware public benefit corporation. Beyond that, no cap table is public.

Anthropic IPO valuation: only a confidential filing is official

Confirmed by the companies: Anthropic announced on June 1, 2026 that it had confidentially submitted a draft registration statement (Form S-1) to the SEC. It said the number of shares and the price have not been set and that the offering depends on market conditions. OpenAI announced on June 8, 2026 that it had done the same and has not set a timeline. Neither has named an exchange, a ticker or a price.

Reported only:

• IFR has reported a possible public filing on October 26, a roadshow on November 9 and a raise of up to $100 billion at a $2 trillion valuation for Anthropic. Anthropic has not confirmed this.
• More recent coverage says investors now discuss roughly $1.5 trillion, down from about $2 trillion. This is a discussion among investors, not an offering price.
• Bloomberg reported on September 29, 2026 that OpenAI is in talks to raise at least $30 billion at roughly $1.4 trillion as a bridge to an IPO. According to TechCrunch, OpenAI did not respond to its request for comment.
• Sam Altman has been reported as ruling out an OpenAI IPO in 2026, with the company saying it will be public in 2027 or sooner, according to reports.

As of this check, no public S-1 appeared on the SEC’s EDGAR database. Prospectus numbers that circulate online as leaks are unconfirmed and may change before any filing, so they are not used here.

What to watch next for both valuations

• A public S-1 from Anthropic on EDGAR, which would be the first official source for audited financials, share counts and a price range.
• Any OpenAI announcement of a new round after the March 31 figure of $852 billion.
• Official updates to run-rate revenue, which Anthropic put above $47 billion in May.
• Market conditions, which both companies cite as a factor in timing.

Common questions