AI technology company Anthropic has reached a valuation of $965 billion following a new funding round, making it the world’s most valuable AI startup. The maker of the Claude chatbot announced on Thursday that it raised $65 billion in its latest investment round, surpassing rival OpenAI. The funding was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital.

Once considered a smaller player in the global AI race, Anthropic’s rapid rise has drawn major attention in the tech industry. The company’s coding assistance tools, launched late last year, have gained widespread adoption among large corporations. Analysts say the new valuation signals a shift in the balance of power within the AI sector and could influence IPO plans of companies like OpenAI and SpaceX.

Anthropic has also positioned itself as a safety-focused AI firm and is currently in a legal dispute with the U.S. Department of Defense over the use of its technology in autonomous weapons. The company recently delayed the release of its new “Mythos” model due to cybersecurity concerns, prompting international discussion about AI safety and regulation.