Anthropic announced a $13 billion Series F at a $183 billion post-money valuation, led by ICONIQ Capital and co-led by Fidelity and Lightspeed Venture Partners, with broad institutional participation including Altimeter, Baillie Gifford, BlackRock-affiliated funds, Blackstone, Coatue, General Atlantic, GIC, Goldman Sachs Alternatives, Insight Partners, Jane Street, the Qatar Investment Authority, TPG, and T. Rowe Price. Run-rate revenue had gone from about $1 billion at the start of 2025 to over $5 billion by August, and the valuation nearly tripled in little more than half a year — the round where Anthropic's enterprise and coding growth showed up in the numbers.