Anthropic closed a $13 billion Series F, according to the research audit underpinning this report, extending an extraordinary fundraising cadence as demand for its Claude models surged across the enterprise.

The raise was underwritten by revenue acceleration rather than narrative alone. Anthropic's annualized run-rate approached $9 billion by the end of 2025, powered in large part by Claude Code, an autonomous coding agent that had rapidly become one of the company's fastest-growing products.

The financing reflected the compute economics of frontier development: training and serving state-of-the-art models required capital on a scale that only a handful of investors could supply. Amazon and Google, Anthropic's principal cloud partners, continued to anchor its infrastructure.

The Series F would prove to be only a way station. Within months, Anthropic would raise again at valuations that briefly made it the most valuable private startup in the world.