Anthropic funding rounds & valuation history
Every priced round from Series E to H, plus tenders, reported talks and IPO pricing, each labelled as a closed round, reported talks, a tender, IPO talk or the IPO range (filed). Each row gives the amount, lead investors or buyer, valuation, a revenue multiple where the company stated a run-rate, and its source.
Round history
Newest first. Dashed badges and striped rows are not closed transactions. “—” means the source does not disclose the figure or it cannot be computed on the same basis; see the note in each row.
| Date | Status | Round | Amount | Lead / buyer | Valuation | Val. ÷ run-rate | Source |
|---|---|---|---|---|---|---|---|
IPO range (filed) |
IPO price range (filed)$70.00–$78.00 per share: 801,351,354 shares from Anthropic and 23,648,646 from selling stockholders, plus an underwriters’ option for 123,750,000 more. Nasdaq Global Select, “ANT”.Concurrent private placement: $26.0B of Class N stock at the IPO price, bought by AMD, Broadcom, Google (funding a portion of a prior commitment), Micron, Microsoft, NVIDIA and TSMC Partners (S-1/A). CNBC, citing unnamed sources, says pricing is planned for 18 Nov and trading for 19 Nov. |
$57.75B–$64.35B825,000,000 Class A shares × $70–$78 (GNF calc.; TechCrunch reports the same range). Includes 23,648,646 shares sold by selling stockholders. |
—Not disclosed |
Up to $1.404TImplied, fully diluted, at $78, as reported by TechCrunch (CNBC: up to $1.405T). Not a GNF figure. |
—Not disclosedTalks-stage or discussed figure; no multiple |
||
IPO talk |
IPO valuation talk (latest)Discussed range, not a valuation; superseded by the filed price range on 10 Nov.EconoTimes, citing Bloomberg, adds that one prospective investor was considering $1.1T. That line is not in the syndicated Bloomberg copy, so it is not used as the range. |
—Not disclosed |
—Not disclosed |
$1.2T–$1.3TRange potential buyers were discussing, per a person familiar (Bloomberg) |
—Not disclosedTalks-stage or discussed figure; no multiple |
||
IPO talk |
IPO valuation talk (after October briefing)Exact date not given; Bloomberg reported it at the time. Superseded by the 6 Nov range. |
—Not disclosed |
—Not disclosed |
About $1.4T–$1.5TFair-value estimates some investors gave IPO bankers after an October company briefing on financials (Bloomberg) |
—Not disclosedTalks-stage or discussed figure; no multiple |
||
IPO talk |
IPO valuation talk (early October)Bloomberg dates this to early October 2026. A BNP Paribas strategist’s quoted “rumored target range of $1.5 to $2 trillion” is a separate comment and is not used here. |
—Not disclosed |
—Not disclosed |
As high as $2TInvestors’ fair-valuation estimates in early October, per people familiar (Bloomberg) |
—Not disclosedTalks-stage or discussed figure; no multiple |
||
Closed round |
Series HIncludes $15B of previously committed investments from hyperscalers, including $5B from Amazon (announcement).S-1/A: Series H-1 ($45.7B) + Series H-2 non-voting ($19.5B) at $589.0095/share = $65.2B gross, May–Jun 2026; includes Google $10.0B and Amazon $5.0B. |
$65B |
Altimeter Capital, Dragoneer, Greenoaks, Sequoia CapitalCo-led: Capital Group, Coatue, D1 Capital Partners, GIC, ICONIQ, XN |
$965BPost-money, closed priced round2.54× vs prior closed |
under 20.5×$965B ÷ run-rate that “crossed $47 billion” (company, May 2026). GNF calc. |
||
Reported talks |
Reported talks (became Series H)Outcome: closed 28 May 2026 as the Series H, $65B at $965B post-money. |
$40B–$50BExpected round total, per TechCrunch’s sources (offers of “around $50 billion”) |
—Not disclosed |
$850B–$900BPreemptive offers, per TechCrunch’s sources. CNBC: talks at $900B, no term sheet signed. |
—Not disclosedTalks-stage or discussed figure; no multiple |
||
Tender |
Tender offer (third-party buyers)Board-approved Feb 2026, closed Apr 2026; aggregate $4,661,437,298. Sellers included current and former employees, service providers and donor-advised funds. No company valuation stated. |
$4.66B179,883,540 Class A shares at $25.9136 each (aggregate as stated in the filing) |
A group of third-party buyers (not named) |
—Not disclosedNo company valuation stated in the filing |
—Not disclosedNo valuation, so no multiple |
||
Closed round |
Series GIncludes a portion of the previously announced Microsoft and NVIDIA investments (announcement).S-1/A: Series G-1 and G-2 sold Jan–Feb 2026 at $259.1364/share, $30.2B gross. |
$30B |
GIC, CoatueCo-led: D. E. Shaw Ventures, Dragoneer, Founders Fund, ICONIQ, MGX |
$380BPost-money, closed priced round2.08× vs prior closed |
27.1×$380B ÷ $14B run-rate (company, 12 Feb 2026). GNF calc. |
||
Reported talks |
Reported talks (became Series G)Outcome: closed 12 Feb 2026 as the Series G, $30B at $380B post-money. |
$10B |
Coatue, GIC (reported) |
$350BValuation on a signed term sheet, per CNBC (WSJ reported first). Pre- or post-money not stated. |
—Not disclosedTalks-stage or discussed figure; no multiple |
||
Closed round |
Series FClosed above the $170B reported in July 2025 talks. |
$13B |
ICONIQCo-led: Fidelity Management & Research Company, Lightspeed Venture Partners |
$183BPost-money, closed priced round2.98× vs prior closed |
under 36.6×$183B ÷ run-rate of “over $5 billion” (company, Aug 2025). GNF calc. |
||
Reported talks |
Reported talks (became Series F)Outcome: closed 2 Sep 2025 as the Series F, $13B at $183B post-money. |
$3B–$5B |
ICONIQ (reported) |
$170BReported valuation in talks, not closed |
—Not disclosedTalks-stage or discussed figure; no multiple |
||
Tender |
Tender offer (company repurchase)Company-commenced tender; the S-1/A says the company repurchased and immediately retired the shares. Aggregate $156,716,898. No company valuation stated. |
$156.7M27,942,000 Class A shares at $5.61 each (aggregate as stated in the filing); paid out by the company |
Anthropic (company repurchase) |
—Not disclosedNo company valuation stated in the filing |
—Not disclosedNo valuation, so no multiple |
||
Closed round |
Series EEarliest round in this tracker; earlier rounds not yet added. |
$3.5B |
Lightspeed Venture Partners |
$61.5BPost-money, closed priced round |
—Not disclosedNo run-rate stated in the Series E announcement. The Series F announcement puts run-rate at about $1B at the start of 2025. |
Post-money valuation at each closed round
Closed priced rounds only. Talks, tenders, IPO talk and the IPO range are deliberately not plotted.
Sources: Anthropic announcements (Series E, F, G, H). US$ billions, linear scale; bar length ∝ post-money valuation.
Talks vs. closings
What was reported in talks, and what actually closed.
- 3 Mar 2025 · Closed
Series E closed at $61.5B post-money, raising $3.5B.
- 29 Jul 2025 · Reported talks
$170B reported for a $3B–$5B raise led by ICONIQ (TechCrunch citing Bloomberg).
- 2 Sep 2025 · Closed
Series F closed at $183B post-money, raising $13B.
- 7 Jan 2026 · Reported talks
Term sheet for $10B at a $350B valuation, led by Coatue and GIC (CNBC).
- 12 Feb 2026 · Closed
Series G closed at $380B post-money, raising $30B, three times the $10B in the term sheet.
- 29 Apr 2026 · Reported talks
Offers of about $50B at $850B–$900B; round expected at $40B–$50B (TechCrunch). CNBC: talks at $900B.
- 28 May 2026 · Closed
Series H closed at $965B post-money, raising $65B. This is the last priced valuation.
- Early Oct 2026 · IPO talk
Investors’ fair-value estimates as high as $2T (Bloomberg).
- Oct 2026 · IPO talk
About $1.4T–$1.5T after a company briefing on financials (Bloomberg).
- 6 Nov 2026 · IPO talk
Potential buyers discussing $1.2T–$1.3T after a tech selloff (Bloomberg).
- 10 Nov 2026 · IPO range filed
$70–$78 a share on 825M shares; up to $1.404T fully diluted at the top, as reported by TechCrunch.
Cite this dataset
Free to quote with a link back. Copy this citation:
Anthropic Funding Rounds & Valuation History. Private Valuation & Funding Round Tracker, GrowthNavigateFunding.net, updated 13 Nov 2026. https://growthnavigatefunding.net/funding/anthropic/
Download the data
The same 13 rows as the table: numeric US$ columns, empty cells where a figure is not disclosed, and a source URL for every row.
- File
anthropic-rounds.csv(UTF-8, comma-separated)- Stable URL
https://growthnavigatefunding.net/wp-content/uploads/2026/11/anthropic-rounds.csv- Columns
id,date,date_precision,status,transaction_type,round,amount_usd_low,amount_usd_high,lead_or_buyer,co_leads,valuation_usd_low,valuation_usd_high,valuation_basis,valuation_to_run_rate_multiple,multiple_bound,multiple_basis,step_up_vs_prior_closed,price_per_share_usd_low,price_per_share_usd_high,shares,source,source_url,other_source_urls,notes,last_updated- Updated
- (IST)
Methodology & status definitions
How each row is labelled and calculated.
Closed round
A priced equity round the company has announced as completed. Only these rows carry a post-money valuation and appear in the chart.
Reported talks
A valuation reported by the press while a round was being negotiated, kept next to the round it became so the gap is visible. Talks figures are not valuations.
Tender
A tender offer for existing shares, as disclosed in the S-1/A: either a purchase by third-party buyers (April 2026) or a company repurchase (June 2025). The filing gives a price per share and an aggregate amount but no company valuation, so none is shown.
IPO talk
Valuation ranges that prospective IPO investors were reported to be discussing, attributed to the outlet that reported them. These are discussed ranges, not valuations or an offering price, and carry no multiple.
IPO range (filed)
The price range and share count set in the company’s SEC registration statement. Any implied company value is quoted only as reported by named outlets; it is not a GNF figure. When the IPO prices, a new “IPO priced” row will be added.
Valuation ÷ run-rate
Post-money ÷ the run-rate revenue the company stated in that round’s announcement (GNF calc.). Earlier announcements do not say how they defined run-rate, so the S-1/A’s Run-Rate Revenue definition is not applied to them retroactively. Where the company gave only a floor (“over $5 billion”, “crossed $47 billion”), the multiple is shown as “under”.
What is not a separate row
Strategic purchases outside the announced rounds. The S-1/A records 57.9M Series G-2 non-voting shares sold in Q2 2026 for $15.0B, matching the 38.6M and 19.3M G-2 shares committed under note purchase agreements with Google (Mar 2026) and Amazon (Apr 2026), and $10.2B of convertible notes issued to two investors since Nov 2023. The $26.0B Class N private placement appears in the IPO range row.
Updates & corrections
This page stays at one address and is updated in place; the “Last updated” date above drives the citation and the dataset metadata. Corrections: hello@growthnavigatefunding.net. Informational only; not investment advice.
Changelog
- : Added the filed IPO price range, share count, underwriters’ option and $26.0B private placement from S-1/A Amendment No. 2 (10 Nov). Corrected the IPO-talk rows to Bloomberg’s 6 Nov reporting ($1.2T–$1.3T; earlier about $1.4T–$1.5T; early October as high as $2T) and removed the IPO-talk multiple. Added the Series G and Series H talks. Series H multiple now shown as an upper bound; Series H amount reconciled to the S-1/A. CSV restructured with numeric columns.
- : Dataset first compiled: Series E–H, two tenders, July 2025 talks.
Sources
- U.S. SEC: Anthropic, PBC, Form S-1/A (Amendment No. 2), filed 10 Nov 2026
- Anthropic: Anthropic raises $65B in Series H funding at $965B post-money valuation, 28 May 2026
- Anthropic Series H release published by GIC (PDF), 28 May 2026
- Anthropic: Anthropic raises $30 billion in Series G funding at $380 billion post-money valuation, 12 Feb 2026
- Anthropic: Anthropic raises $13B Series F at $183B post-money valuation, 2 Sep 2025
- Anthropic: Anthropic raises Series E at $61.5B post-money valuation, 3 Mar 2025
- TechCrunch: Anthropic sets IPO price range of $70 to $78 per share to reach an implied valuation of $1.404 trillion, 10 Nov 2026
- CNBC: Anthropic sets IPO price range of $70 to $78, looks to start trading Nov. 19, sources say, 10 Nov 2026
- Bloomberg via Moneycontrol: Anthropic IPO buyers see valuation down as low as $1.2 trillion, 6 Nov 2026
- Investing.com (Louis Juricic): Anthropic IPO valuation discussions fall to $1.3 trillion, Bloomberg reports, 6 Nov 2026
- EconoTimes: Bloomberg: Anthropic IPO investors discuss $1.2 trillion to $1.3 trillion valuation, 7 Nov 2026
- TechCrunch: Sources: Anthropic could raise a new $50B round at a valuation of $900B, 29 Apr 2026
- CNBC: Anthropic in talks with investors to raise funds at $900 billion valuation, 29 Apr 2026
- CNBC: Anthropic signs term sheet for $10 billion funding round at $350 billion valuation, 7 Jan 2026
- TechCrunch: Anthropic reportedly nears $170B valuation with potential $5B round, 29 Jul 2025