Anthropic has closed a new funding round that lifts its valuation to $965 billion, placing it ahead of OpenAI in the race to lead artificial intelligence.The company, best known for its Claude family of models, is also seeing rapid business expansion, with second-quarter revenue projected to reach $10.9 billion.That figure would more than double prior levels and suggests the startup is moving toward sustained profitability.

The scale of the valuation shows how strongly investors continue to back frontier AI companies, even as the market becomes more crowded and expectations rise.

The report frames Anthropic not just as a fast-growing startup, but as a company that may be transitioning into a more mature phase of growth, with revenue momentum and operating profits becoming central to its story.

The deal also highlights how investor enthusiasm is still concentrated around a small number of leaders in generative AI, particularly firms with strong enterprise adoption and high-growth model products.

In practical terms, the article signals that Anthropic has become one of the most valuable private technology companies in the world and a direct challenger to OpenAI’s position at the top of the AI industry.