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Anthropic raises $65B in Series H funding at $965B post-money valuation

anthropic.com

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Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#261

Post by [deleted] »

simonw wrote: post #247
Zafira wrote: post #238

Earlier quoted context omitted.

Personally, I’m just exhausted. They are not obligated to be truthful here, so the entire thing is interpreted based on vibes. If you are an AI booster, this is proof that the demand is there; if you aren’t, you’re baffled at where these numbers are coming from.

I think lying about their numbers now is risky if they're planning on an IPO this year - the real figures will come out in the S-1, and investors don't like untrustworthy companies. Update: this inspired a note on my blog: https://simonwillison.net/2026/May/29/anthropic/

[deleted]

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#262

Post by throwaway85825 »

sberens wrote: post #258
bnagh wrote: post #253

Earlier quoted context omitted.

They get in now because they want a high IPO exit. They care about the perception of the numbers, not about reality. If you think investment banks will catch them during the IPO: They have launched many overpriced IPOs in 1999/2000 and also want a high IPO price.

Investors are usually prevented from selling until 180 days after IPO

The rules can be changed, they did for spacex.

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#263

Post by conradkay »

claytongulick wrote: post #260
conradkay wrote: post #142

Earlier quoted context omitted.

https://techcrunch.com/2026/05/20/anthropic-says-its-about-t...

https://www.wheresyoured.at/anthropics-profitability-swindle...

Yeah it's very murky, but if they're arguably profitable under some definition of profitable, then it's ridiculous to claim there's "no path to profitability"

Especially if you assume that 6 months ago they weren't very close to this version of profitable

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#264

Post by mrandish »

jmalicki wrote: post #181
eutropia wrote: post #172

What is run-rate revenue and how is it different than revenue (classic)?

Revenue is an integral over the past year or past quarter. Run-rate is taking a recent measurement and multiplying it out so it will span a year. Basically, it assumes they keep all of their current contracts, and don't gain any new ones. Forward-looking revenue is an estimate of what the integral will be from now to a year from now. For a growing company, run rate is between past revenue and estimates of future reve…

Sometimes it can be year-to-date extrapolated to full year (which might be calendar or fiscal). The tricky part is the timing of the cutoff period can yield true but misleading numbers, especially in the case of seasonal sales, a major order or just prior to some revenue's recognition period ending.

So, it's saying something but without more details it's also vague and always partially forward looking. I prefer the TTM metric (Trailing Twelve Month revenue).

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#265

Post by pestatije »

mettamage wrote: post #148

I wish I could invest into it, I'd at the very least have invested in their Series F. It was a no brainer by that point. If anyone could teach me how to get into stuff like this, that'd be awesome. I'm from the Netherlands, so not American. Though I'm married to an American.

just talk to your banker they sure know how to invest your money

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#266

Post by Zafira »

xyzzyz wrote: post #249
Zafira wrote: post #238

Earlier quoted context omitted.

Personally, I’m just exhausted. They are not obligated to be truthful here, so the entire thing is interpreted based on vibes. If you are an AI booster, this is proof that the demand is there; if you aren’t, you’re baffled at where these numbers are coming from.

How are they “not obligated to be truthful”? Lying to investors is literally a crime.

You need to think about this more creatively.

What we are talking about is entirely based on this one term in the announcement: run-rate revenue. This is a meaningless term just like how “clinically proven” for vitamins is a way for the companies to use weasel words to imply something without truly being able to back it up, but also not actually lying. There is no legal definition of “clinically proven” so, what exactly would you sue them for? The same thing is true for run-rate revenue. They can cherry pick numbers to use to generate the run-rate revenue value and they are not lying, but this isn’t exactly honest either. We have no transparency and run-rate revenue is not an accounting term.

This goes back to my entire point, this is a vibe. This announcement does not provide much in the way of substance, so a reader will take it to say whatever they want.

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#267

Post by throwaway85825 »

dotcoma wrote: post #90
cmiles8 wrote: post #36

Earlier quoted context omitted.

Because the market almost certainly can’t support two foundation model labs given the increasingly little difference across models and the massive sums of cash required to keep it all going. There is no big 2, just a race to survive and be the big 1.

isn't Google going to win the race anyway ?

In terms of personal assistant AI the monopolists have a massive advantage because they control the platforms and can box out competitors from deeply integrating with the OS.

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#268

Post by peab »

jeberle wrote: post #244
taude wrote: post #67

Earlier quoted context omitted.

Yeup, no shortage of tech IPOs over the past five years that are now valued at like 5% of what they were after being dumped onto the market: ZoomInfo, Bumble, Gemini And many more that are 50% of what they were: Snowflake, Coinbase And many more that went back to private companies and then were sold off: Carbon Black, etc... I'm actually too lazy to go list out all of them. But employees, beware, of those gnarly lock…

Is there any sense in buying (out-of-the money) put options, to make sure you can taste some of that sweet lucre that your overlords are getting?

If you like gambling, sure. Market can stay irrational longer than you can stay solvent, or something like that

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#269

Post by pestatije »

dyauspitr wrote: post #232
BobbyTables2 wrote: post #231

Earlier quoted context omitted.

Indeed! And the returns from such an investment in infrastructure will likely be profound. I feel AI is a bit different, as in there is a spectrum ranging from “utterly stupid” (early ChatGPT), “very helpful” (kinda now), “SkyNet 2.0” (what good are humans!). As algorithms and technology improve, AI will be both cheaper and more capable. Companies like Anthrophic wouldn’t be the vaulted celebrities as they are today.…

Well, if everyone is out of a job, the government is going to have to do something so I’m not too worried about it. If I had to be an optimist about it, I would say that this might be the perfect catalyst to build out a lot of renewable energy (for data centers) and maybe actually implement UBI.

give a bot a vote

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#270

Post by stuxnet79 »

nearlyepic wrote: post #175
shreezus wrote: post #174

Earlier quoted context omitted.

Anthropic is one of the few companies that will likely hit an infinite valuation if they succeed in their mission.

“Infinite valuation”? Give me a break.

TAM will go parabolic once bots are exchanging goods and services with other bots with us meat space humans sitting on the sidelines.
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