Anthropic hit its first profitable quarter while its valuation more than doubled in three months
A fundraising round, a profitability milestone, and a high-profile hire landed in quick succession, making this a notably dense moment for the lab.
Anthropic closed its Series H at a $965 billion valuation, up from $380 billion in February, a more-than-doubling in roughly three months that puts it ahead of OpenAI by that measure. The timing lines up with what the company reported on the revenue side: an annualized run-rate crossing $47 billion earlier this month, alongside what was described as the first profitable quarter posted by any foundation model lab.
This isn't just a first for Anthropic, it's the first profitable quarter for any foundation lab. Nathaniel Whittemore
The hiring signal is also worth noting. Andrej Karpathy recently announced he is joining Anthropic to work on what many call recursive self-improvement, or RSI. In his announcement, Karpathy wrote that “the next few years at the frontier of LLMs will be especially formative,” which tracks with why a researcher of his profile would re-enter at this particular moment.
One wrinkle on the valuation story: tokenized pre-IPO shares of Anthropic circulating on crypto platforms carry a serious legal caveat. As read on air by Ryan Sean Adams, Anthropic’s own language states that “any sale or transfer of Anthropic stock or any interest in Anthropic stock that has not been approved by our board of directors is void and will not be recognized on our books and records.” That makes any token purporting to represent Anthropic equity effectively unenforceable as an ownership instrument, regardless of what the secondary market prices it at.