Qatar’s sovereign wealth fund has taken a stake in Anthropic, joining one of the largest private capital raises in AI to date. The Qatar Investment Authority said it participated in Anthropic’s $13 billion Series F, which the company said values it at $183 billion post money.
The round was led by Iconiq, with co-leads Fidelity Management & Research and Lightspeed Venture Partners. Anthropic said proceeds will expand capacity to meet enterprise demand, deepen safety research, and support international expansion.
The operative development is straightforwand: Anthropic closed a $13 billion Series F at a $183 billion post-money valuation, with participation from QIA alongside a roster of global asset managers and sovereign funds. QIA highlighted the company’s momentum and labeled Anthropic a leading AI safety and research player, the group behind the Claude family of models.
Anthropic’s investor list includes Altimeter, Baillie Gifford, affiliated funds of BlackRock and Blackstone, Coatue, D1 Capital Partners, General Atlantic, General Catalyst, GIC, Goldman Sachs Alternatives, Insight Partners, Jane Street, Ontario Teachers’ Pension Plan, TPG, and T. Rowe Price entities, among others. Terms specific to QIA were not disclosed.
Anthropic paired the financing news with fresh operating metrics. The company said its annualized revenue run rate climbed from about $1 billion at the start of 2025 to more than $5 billion by August, calling it one of the fastest growth arcs in recent tech history.
Anthropic also cited more than 300,000 business customers and a sharp rise in large accounts that each contribute over $100,000 in run-rate revenue. In developer tools, the firm said Claude Code surpassed a $500 million run-rate just months after full launch.
Krishna Rao, Anthropic’s chief financial officer, said in prepared remarks that “we are seeing exponential growth in demand across our entire customer base,” adding that the financing reflects investor confidence in the company’s performance and collaboration with its backers. The firm said the Series F will help scale its platform for enterprises and developers while advancing alignment and interpretability research that underpins its model roadmap.
For QIA, the deal pushes the fund further into core AI infrastructure and applications at a moment when compute supply, model quality, and enterprise distribution are converging. Gulf investors have increasingly targeted technologies that rely on long-dated capital and benefit from scale, and this transaction places QIA alongside U.S. and global institutions that are underwriting Anthropic’s growth plan.
While the parties did not detail governance or board rights, the broad syndicate points to a crossover-heavy cap table designed to support both rapid capacity build-out and optionality for future liquidity events.
Why it matters
The size, valuation, and investor mix underscore how the AI funding cycle has shifted from one-off strategic checks to multi-billion-dollar platform financing aimed at securing compute, talent, and go-to-market reach. Anthropic’s disclosures on customer adoption and revenue run rate signal that paid enterprise use is scaling, not just proofs of concept.
For public markets, the raise also has second-order effects across cloud and chip supply chains, given the implied commitments for training and inference capacity. The next markers for investors will be how quickly Anthropic converts run-rate claims into realized revenue, whether unit economics improve as products like Claude Code mature, and how the company balances safety research with speed to ship new capabilities.
The QIA participation adds another deep-pocketed backer to that timetable, with capital earmarked to keep pace with demand and international expansion.
