Anthropic has just raised a staggering £4.3 billion ($65 billion) in funding, valuing the company at an impressive £672 billion ($965 billion). This latest round, led by tech giants like Altimeter Capital and Sequoia Capital, marks a significant step towards Anthropic's public debut.

The funds will be used to enhance safety research, expand computing resources for its popular AI model Claude, and scale partnerships. With its new Claude Opus 4.8 boasting improved coding abilities and honesty, the company aims to outshine rivals like OpenAI in a fiercely competitive market.

Since its last funding round, Anthropic has seen significant growth, particularly from enterprise customers relying on Claude Code. The startup now boasts a run rate revenue of £47 billion and expects a 130% increase in revenue for its first operating profit.

The valuation and funding raise questions about the future of AI in finance and technology. As Anthropic inches closer to an IPO, it faces competition from Elon Musk’s SpaceX with ambitions of a $2 trillion valuation.