Anthropic, the company behind the Claude AI model, closed a $65 billion Series H funding round on May 28, bringing its post-money valuation to $965 billion. That makes it the most valuable private company in the AI space, surpassing OpenAI and putting it close to the trillion-dollar threshold.
The company simultaneously reported that its annualized revenue run rate surpassed $47 billion, up substantially from roughly $30 billion in earlier estimates.
Inside the round
The Series H was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia. The capital is earmarked for expanding cloud and compute partnerships and scaling Claude for enterprise customers. Anthropic also announced plans to secure multi-gigawatt TPU deals for compute capacity with Google and Broadcom, with delivery slated for 2027.
The unauthorized token problem
For crypto audiences, a notable development is the emergence of unauthorized tokenized equity products tied to Anthropic. A token called ANTHROPIC appeared on the PreStocks platform, and secondary-market trading on venues including Hyperliquid has pushed implied valuations to roughly $1 trillion.
Anthropic has explicitly disavowed these products, voiding unauthorized tokenized share transfers and issuing warnings about exposure to such instruments.
What this means for crypto investors
Anthropic’s planned multi-gigawatt TPU deals with Google and Broadcom represent a significant new source of demand for both energy and semiconductor capacity — two resources Bitcoin miners also depend on. Some mining companies have already pivoted toward AI hosting, as AI workloads can pay more per megawatt than Bitcoin mining.
The tension between legitimate real-world asset tokenization efforts and unauthorized equity products like the ANTHROPIC token is worth watching. Regulatory action against the latter could set precedents that affect the broader RWA tokenization space.
Source: Anthropic Hits $965B Valuation After $65B Series H Round