Anthropic just closed the second largest private technology funding round in history.
The San Francisco based AI company raised $30 billion at a $380 billion post-money valuation, more than doubling what it was worth just five months ago. The only deal that topped it was OpenAI’s $40 billion raise last year. Everything before that is a distant third.
For American businesses, investors, and technology leaders trying to understand where enterprise AI is heading, this is the most important funding story of 2026.
Who Put Up the $30 Billion
The round was led by Coatue, one of the most active technology-focused hedge funds in the United States, and GIC, Singapore’s sovereign wealth fund.
Joining them were some of the most recognizable names in American technology and finance:
Microsoft committed up to $5 billion as part of its previously announced investment in Anthropic. NVIDIA committed up to $10 billion. D.E. Shaw Ventures, Dragoneer, Founders Fund, ICONIQ, and MGX also participated.
The presence of both Microsoft and NVIDIA matters beyond the dollar amount. Microsoft runs some of the most widely used enterprise software in the country. NVIDIA supplies the graphics processing units that power virtually every major AI system in operation. Both companies are betting that Anthropic’s technology will be embedded in the next generation of American business infrastructure.
Anthropic’s Revenue Is Growing at a Rate That Is Hard to Comprehend
Anthropic was founded in 2021. It generated its first meaningful revenue not long after that. By early 2026, it has reached a $14 billion annualized revenue run rate.
To put that in context, revenue grew more than 10 times annually for three consecutive years. Last year alone, the company brought in roughly $10 billion.
About 80 percent of that revenue comes from enterprise customers, not consumers. That distinction matters. Consumer AI products can go viral quickly, but they can also lose users just as fast. Enterprise contracts are stickier, larger, and compound over time as companies expand their usage.
Eight of the Fortune 10 companies are now Claude customers. More than 500 companies spend over $1 million per year on Anthropic’s products. Customers spending over $100,000 annually grew seven times year over year.
Those are not the numbers of a company still figuring out its business model.
What Claude Actually Does Inside American Enterprises
Claude is Anthropic’s core AI product. Most people outside the technology industry know it as a chatbot, but that description undersells what it is being used for at scale inside large American organizations.
Financial services firms use Claude to generate models, analyze documents, and automate research workflows. Healthcare organizations run it under HIPAA-compliant configurations to handle clinical documentation and administrative processes. Law firms use it for drafting, contract review, and legal research. Federal agencies and government contractors are evaluating and deploying it for classified and unclassified operations.
The pattern Anthropic describes is consistent across industries. A company starts using Claude in one department. The team gets results. Other departments ask for access. Within months, it becomes embedded in how the organization operates.
CFO Krishna Rao said it plainly in the company’s statement: “Whether it is entrepreneurs, startups, or the world’s largest enterprises, the message from our customers is the same. Claude is increasingly becoming more critical to how businesses work.”
Claude Code Is the Fastest Growing Product in the Company
If you want to understand why Anthropic’s valuation jumped so dramatically, look at Claude Code.
Claude Code is an AI-powered coding tool that automates large portions of the software development process. It writes code, reviews it, refactors it, and handles many of the routine tasks that take up developer time. It is integrated into existing development environments rather than replacing them.
The numbers tell the story. Claude Code has reached a $2.5 billion annualized revenue run rate. Business subscriptions quadrupled from January to February 2026. Enterprise customers now account for more than half of all Claude Code revenue. Weekly active users doubled since January.
One data point stands out above the rest. Roughly 4 percent of all public commits on GitHub are now generated by Claude Code. GitHub has over 100 million developers on the platform. Four percent of commits across that user base represents a volume of AI-generated software output that no one predicted this quickly.
OpenAI is not sitting still. The company launched GPT-5.3-Codex last week and released a standalone desktop app for Mac users. The competition between Anthropic and OpenAI in AI-assisted development is now one of the most commercially significant technology battles in the United States.
The Race Against OpenAI and Google
Anthropic is not the only company raising large sums. It is competing in a market where the cost of staying competitive is measured in the tens of billions.
OpenAI’s $40 billion raise last year set the record. The company is reportedly in discussions for a round that could close at around $100 billion. It has also committed to $1.4 trillion in infrastructure investments. The scale of those numbers reflects how expensive it is to train frontier AI models and maintain the infrastructure to serve them at enterprise scale.
Google is spending up to $185 billion in capital expenditures this year, much of it tied to AI development. Its Gemini products compete directly with Claude across cloud, productivity, and developer tools.
Anthropic trains Claude on a mix of AWS Trainium chips, Google TPUs, and NVIDIA GPUs, which means it is not entirely dependent on any single hardware supplier. Claude is available on Amazon Web Services through Bedrock, on Google Cloud through Vertex AI, and on Microsoft Azure through Azure AI Foundry. That multi-cloud approach gives enterprise buyers flexibility and reduces the vendor lock-in concerns that often slow procurement decisions inside large American companies.
Claude Opus 4.6 and Where the Technology Is Going
Earlier in February, Anthropic released Claude Opus 4.6, its most recent frontier model.
The company says Opus 4.6 is better at coding, produces higher-quality professional documents, and handles more complex knowledge work than previous versions. According to Anthropic, it leads on GDPval-AA benchmarks, which measure AI performance specifically on economically valuable tasks in finance and legal work.
The direction of the product roadmap is clear. Anthropic is not trying to build the most impressive demo. It is trying to build AI that replaces significant portions of knowledge work inside American corporations, law firms, hospitals, and government agencies. That is a larger and more durable market than consumer AI.
Why Investors Are Paying $380 Billion for a Five Year Old Company
For American investors and business leaders trying to make sense of the valuation, the logic is straightforward when you look at the numbers in sequence.
Revenue is at $14 billion and growing more than 10 times year over year. Enterprise contracts are expanding, not churning. The product set covers coding, document work, financial analysis, and regulated industry applications. The distribution runs across every major cloud platform in use by American enterprises. The customer list includes eight of the ten largest companies in the country.
At $380 billion, investors are not paying for what Anthropic is today. They are paying for what embedded enterprise AI looks like at maturity when it is running inside most of the workflows that currently require human knowledge workers.
Whether that bet pays out depends on execution, competition, and how quickly American businesses are willing to restructure their operations around AI-native tools. The current evidence suggests the pace of adoption is faster than most analysts expected even twelve months ago.
Frequently Asked Questions About Anthropic’s $30 Billion Funding Round
How much did Anthropic raise and at what valuation? Anthropic raised $30 billion in a Series G funding round at a $380 billion post-money valuation, announced February 12, 2026. The round was led by Coatue and GIC.
Is Anthropic’s funding round the largest in AI history? It is the second largest. OpenAI raised more than $40 billion last year, which remains the record for private technology financing. Anthropic’s $30 billion round is the second largest ever.
What will Anthropic do with the $30 billion? Anthropic said the capital will be used for infrastructure expansion, continued frontier AI research, enterprise product development, and expanding cloud ecosystem partnerships across AWS, Google Cloud, and Microsoft Azure.
What is Claude Code and why is it growing so fast? Claude Code is Anthropic’s AI-powered coding tool. It automates writing, reviewing, and refactoring code. It has reached a $2.5 billion annualized revenue run rate, business subscriptions quadrupled in early 2026, and roughly 4 percent of public GitHub commits are now generated by Claude Code.
How does Anthropic compare to OpenAI in revenue? Anthropic reached a $14 billion annualized revenue run rate in early 2026. OpenAI is operating at higher total revenue levels given its larger consumer base, but Anthropic derives about 80 percent of its revenue from enterprise customers, compared to OpenAI’s stronger consumer mix through ChatGPT.
Who are the major investors in Anthropic? Coatue and GIC led the Series G round. Other major participants include Microsoft, NVIDIA, D.E. Shaw Ventures, Dragoneer, Founders Fund, ICONIQ, and MGX.
What This Funding Round Tells the American Market
Three things are becoming clear in early 2026.
First, enterprise AI is no longer experimental. American companies are buying it, expanding it, and building critical operations around it. Eight of the Fortune 10 using Claude is not a pilot program result. It is production deployment.
Second, AI-assisted software development is growing faster than almost anyone forecast. Claude Code reaching $2.5 billion in annualized revenue while 4 percent of GitHub commits already carry its fingerprint shows that AI is actively reshaping how software is written in this country.
Third, the capital concentration in top-tier AI companies is not slowing. It is accelerating. The companies that can convert compute investment into enterprise revenue at scale are attracting capital that dwarfs anything seen in previous technology cycles.
Anthropic has earned its place in that group. At $380 billion and growing, the question for American business leaders is not whether AI will be embedded in their operations. It is how quickly they are willing to move.
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