The Week’s 10 Biggest Funding Rounds: Anthropic Dominates In An Otherwise Slower Week For Megarounds
Anthropic’s $65B round led a quieter week for U.S. startup megadeals, with Cognition next at $1B.
Intelligence analysis by GPT-5.4 Mini
A weekly Crunchbase roundup shows Anthropic far ahead of every other startup in announced funding for May 23-29. After the AI giant’s $65 billion raise, the rest of the list drops sharply, though several startups in AI, logistics, insurtech, fusion, healthcare, space, video, and cancer detection still posted large rounds.
A big list of startup money this week had one giant winner: Anthropic. It got so much money that the other companies on the list looked small beside it, like one huge tree standing over a row of saplings.
After that came a company called Cognition, then a mix of businesses that build shipping tools, insurance software, space hardware, and health tech. Some of them use AI too, but not all of them do.
This matters because it shows where investors are putting their biggest bets. Right now, AI is the loudest corner of the startup world, but other kinds of companies can still raise big money if they build something important.
Analysis
The headline: Anthropic dwarfs the field
Crunchbase’s weekly roundup of the largest announced U.S. startup financings for May 23-29 is dominated by one deal: Anthropic’s $65 billion Series H. The generative AI company said the round more than doubled its post-money valuation to $965 billion, with Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital leading the financing and several other large firms co-leading.
That single round is so large that the rest of the week looks modest by comparison. The next-largest financing was Cognition’s $1 billion round at a $26 billion valuation. Cognition makes Devin, its AI software engineer, and the company said Lux Capital, General Catalyst, and 8VC led the deal.
The rest of the list still shows broad demand
Beyond AI, the roundup includes Stord’s $250 million Series F for logistics and fulfillment software; OpenRouter’s $113 million Series B for an AI-model marketplace; and Corgi Insurance’s $106 million Series B1, which valued the AI-native insurance platform at $2.6 billion. Corgi’s new financing came only three weeks after it announced a separate $160 million Series B at a $1.3 billion valuation.
The lower half of the top 10 spans fusion energy, healthcare data, space tech, AI video, and cancer detection. Thea Energy raised $100 million; Garner Health also raised $100 million; Observable Space raised $90 million and separately disclosed a $94 million U.S. Space Force contract; Reactor emerged from stealth with $59 million; and ClearNote Health raised $52 million.
Crunchbase says it tracked the largest announced rounds in its database for U.S.-based companies during the period, noting that some deals can appear later because of reporting lag. The list reinforces a simple pattern: AI still commands the biggest checks, but capital is also flowing to companies building real infrastructure in logistics, healthcare, fusion, and defense-adjacent space systems.
Key points
- Anthropic led U.S. startup funding for May 23-29 with a $65 billion Series H and a $965 billion valuation.
- Cognition followed with more than $1 billion raised at a $26 billion valuation.
- Other large rounds went to Stord, OpenRouter, Corgi Insurance, Thea Energy, Garner Health, Observable Space, Reactor, and ClearNote Health.
- The week was slower for megarounds outside the very top of the list.
- Crunchbase’s roundup covers announced rounds for U.S.-based companies and may lag late-reported deals.
