Anthropic Raises $30 Billion in Series G at $380 Billion Valuation

The Second-Largest Tech Raise in History

On February 12, 2026, Anthropic officially announced the close of its $30 billion Series G funding round, valuing the company at $380 billion post-money. This marks the second-largest private financing round in technology history, trailing only OpenAI's $40 billion raise. The round was led by Singapore sovereign wealth fund GIC and Coatue Management, with participation from D.E. Shaw Ventures, Dragoneer, Founders Fund, ICONIQ, MGX, Microsoft, and Nvidia.

The new valuation represents a staggering leap from Anthropic's previous Series F valuation of $183 billion, more than doubling in a matter of months. The round signals that institutional investors remain deeply confident in Anthropic's trajectory despite the intensely competitive AI landscape.

Revenue Growth That Defies Expectations

Anthopic's financial performance has been nothing short of extraordinary. The company's annualized revenue has climbed to $14 billion, up from approximately $10 billion at the end of 2025. This represents over 10x year-over-year growth for the third consecutive year, a rate of expansion that is virtually unprecedented for a company of Anthropic's size.

The enterprise adoption numbers tell an equally compelling story. Two years ago, only a dozen customers were spending over $1 million annually with Anthropic. Today, that number exceeds 500. Eight of the Fortune 10 are now Claude customers, demonstrating that Anthropic has successfully penetrated the highest tiers of the corporate market.

The number of customers spending over $100,000 annually on Claude, measured by run-rate revenue, has grown 7x in the past year alone. This breadth of enterprise adoption suggests that Claude is becoming embedded in critical business workflows across industries.

Claude Code: The $2.5 Billion Product

Perhaps the most striking metric in the funding announcement is the performance of Claude Code. The AI coding tool's annualized revenue has reached $2.5 billion, more than doubling since the beginning of 2026. Weekly active Claude Code users have also doubled since January 1, indicating that the product is gaining momentum at an accelerating pace.

Business subscriptions to Claude Code have quadrupled since the start of the year, with enterprise use now representing over half of all Claude Code revenue. This shift toward enterprise adoption is significant because enterprise customers tend to be stickier, with higher lifetime value and more predictable revenue streams.

Claude Code's rapid growth reflects a broader industry trend where AI coding assistants are transitioning from experimental tools to essential development infrastructure. By capturing a $2.5 billion share of this market, Anthropic has established Claude Code as one of the most commercially successful AI products in the world.

Opus 4.6 and the Agent Era

The funding announcement coincided with momentum around Anthropic's newest model, Claude Opus 4.6, which launched with a 1 million token context window in beta. This is a first for Opus-class models and enables Claude to handle extraordinarily complex, long-form tasks.

Opus 4.6 achieved the top ranking on GDPval-AA, a benchmark that measures performance on economically valuable knowledge work tasks across finance, legal, and other professional domains. Anthropic described the model as capable of powering agents that "manage entire categories of real-world work," including generating documents, spreadsheets, and presentations with professional quality.

This positioning is important because it signals Anthropic's strategic direction. Rather than competing solely on benchmark performance, the company is building toward AI agents that can handle end-to-end professional workflows. The 1 million token context window and 128K output capability are specifically designed to support these agentic use cases.

How Anthropic Stacks Up Against OpenAI

The inevitable comparison is with OpenAI, which is valued at approximately $500 billion and claims over 800 million global users. OpenAI raised over $40 billion in its most recent funding round, setting the record that Anthropic's raise now ranks second to.

However, the gap between the two companies is narrowing in several important dimensions. Anthropic's revenue growth rate exceeds OpenAI's, and its enterprise penetration, with eight of the Fortune 10 as customers, demonstrates strong competitive positioning in the highest-value market segment.

The competitive dynamics were also on display during the Super Bowl, where both companies ran advertising campaigns targeting each other's business models. Anthropic's ads emphasized its commitment to keeping Claude ad-free, while OpenAI defended its plan to introduce advertising to ChatGPT as a way to democratize AI access.

Both companies are simultaneously pursuing potential IPOs later in 2026, which adds another dimension to the rivalry. A successful public offering would validate each company's strategic approach and provide additional capital for the AI arms race.

What the Money Will Fund

Anthopic has indicated that the Series G proceeds will be directed toward continued research and product development. The company's core mission remains building safe, beneficial AI, and the scale of investment required to remain competitive at the frontier continues to escalate.

Training runs for next-generation models now cost hundreds of millions of dollars, and the infrastructure requirements in terms of compute, memory, and energy are growing exponentially. The $30 billion provides Anthropic with a substantial runway to fund multiple generations of model development without compromising on safety research.

The funding also supports Anthropic's growing product portfolio. Beyond Claude and Claude Code, the company has been expanding into enterprise integrations, industry-specific solutions, and the agentic AI capabilities highlighted with Opus 4.6.

The Broader Investment Landscape

Anthopic's raise is part of a broader pattern of massive capital flowing into the AI sector. Venture capital firms are increasingly backing both Anthropic and OpenAI simultaneously, reflecting a belief that the AI market is large enough to support multiple major players.

Bloomberg reported in February 2026 that VCs are breaking traditional taboos by investing in direct competitors, with several firms holding positions in both Anthropic and OpenAI. This dual-betting strategy suggests that the investment community sees the AI sector as a once-in-a-generation opportunity where the overall market growth will outweigh competitive pressures between individual players.

Conclusion

Anthopic's $30 billion Series G represents a definitive moment in the company's evolution from AI safety research lab to major technology platform. With $14 billion in annualized revenue, a $2.5 billion Claude Code business, and eight of the Fortune 10 as customers, Anthropic has built the commercial foundation to sustain its mission of developing safe AI at the frontier. The $380 billion valuation places Anthropic firmly in the top tier of technology companies globally, and the momentum heading into a potential 2026 IPO could further accelerate its trajectory. For developers, enterprises, and investors watching the AI space, Anthropic's funding round confirms that the competitive landscape at the top of AI is a two-horse race with enormous stakes on both sides.