American technology company Anthropic has risen to the top of the artificial intelligence startup landscape, becoming the most valuable player in Silicon Valley after raising an additional $65 billion in funding.
The funding round pushes the company's market valuation to $965 billion, surpassing rivals including its main competitor OpenAI, maker of ChatGPT.
Anthropic's valuation has nearly tripled since it was valued at $380 billion in February. Rival OpenAI, which sparked the current AI boom in 2022 with the launch of ChatGPT, was most recently valued at $730 billion following its own funding round.
Much of this growth is being driven by rising demand for Anthropic's Claude AI products, particularly the coding assistant known as Claude Code.
Anthropic said it is now generating annualised revenue of $4.7 billion, a significant increase from $3 billion earlier this year and approximately $1 billion in annualised revenue last year.