Anthropic filed for an initial public offering after raising $65 billion in a Series H round that valued the Claude maker at $965 billion, according to regulatory filings.

The valuation surpasses OpenAI's most recent private market assessment and positions Anthropic as the most valuable AI company ahead of its public debut. The company did not disclose the timing of its IPO or which exchanges it plans to list on.

The funding round coincided with the release of Claude Opus 4.8, which delivered improved benchmark scores and introduced Dynamic Workflows for long-running multi-agent tasks. The model's system card highlighted new findings on eval-awareness and welfare considerations.

Competition intensifies across AI landscape

Microsoft launched its MAI model family, including MAI Thinking 1, alongside the always-on Scout assistant built on OpenClaw technology. The company emphasized enterprise security architecture and model-from-scratch capabilities at its Build conference.

Cognition raised $1 billion at a $25 billion pre-money valuation, while MiniMax released its M3 model that reportedly outperformed GPT-5.5 and Gemini 3.1 Pro on key benchmarks at 5-10% of the cost.

A JPMorgan analysis suggested OpenAI needs a 26x revenue increase to justify its current infrastructure spending, raising questions about the sustainability of massive AI investments across the sector.

ElevenLabs unveiled a music-generation model capable of switching genres mid-track, while Robinhood began allowing AI agents to execute stock trades on behalf of users.

Policy developments included Trump signing an executive order establishing voluntary pre-release government testing for powerful AI models. The White House approved $9 billion in funding for intelligence agencies to accelerate AI adoption.

Security concerns emerged after hackers exploited Meta AI support systems to gain access to high-profile Instagram accounts. The US tightened export controls on Nvidia AI chips, while China began requiring AI experts at private firms to secure approval before international travel.

OpenAI expanded its biodefense initiatives with Rosalind, offering federal agencies early access to life-sciences models, while Project Glasswing received additional funding for cyber and biodefense applications.