Anthropic has become the most valuable AI company in Silicon Valley after raising $65 billion in a Series H funding round at a $965 billion valuation.

The round, led by major investors including Altimeter Capital and Sequoia Capital, nearly tripled the company’s valuation in just a few months.

Strong growth has been driven by demand for its Claude AI tools, with the company reporting a revenue run rate of $47 billion.

Anthropic also released new AI models and highlighted expanding enterprise adoption of its technology, CNBC has reported.

The funding comes as major AI companies, including OpenAI, prepare for potential public listings and increased competition in the sector.