Anthropic tops OpenAI as most valuable AI startup, nears $1 trillion valuation in latest round

Anthropic, an AI company that makes Claude (a large language model, or LLM, which is software trained on huge amounts of text to generate human-like responses), has become the most valuable AI startup in Silicon Valley after raising $65 billion in funding, pushing its valuation to $965 billion and surpassing competitor OpenAI. The company's valuation jump is driven by strong revenue from Claude Code, an AI coding assistant, which reached a $47 billion annual run rate. Anthropic is now preparing for an initial public offering (IPO, when a private company sells shares to the public to raise money), alongside other major AI companies.