U.S.-based company Anthropic has raised $65 billion in its latest funding round, bringing its valuation to $965 billion, The Hill reported.

It marks a massive gain in value for Anthropic, which just three months ago raised $30 billion at a $380 billion valuation. The company leapfrogs OpenAI, whose latest funding round in February put the ChatGPT maker at $852 billion.

“This funding will help us serve the historic demand we are experiencing, stay at the research frontier, and bring Claude to more of the places where work happens,” Krishna Rao, Anthropic’s chief financial officer, said in a statement.

Both Anthropic and OpenAI are widely expected to go public this year, as the pair of AI rivals seek access to additional funding to cover the vast amount of computing power required to continue developing the technology.

Elon Musk’s SpaceX, which is also considered part of the AI horse race following its merger with xAI, has already filed for an initial public offering (IPO). It is reportedly eyeing a $1.75 trillion valuation.

Anthropic’s latest funding round comes as the company separately announced Thursday that it plans to release its Mythos model more widely.

Last month, it offered a limited group of companies and government agencies early access to the new, more powerful model. The model, which can spot decades-old security flaws, sparked concerns that it could boost the capabilities of hackers to find and exploit these vulnerabilities in critical systems.

“Models of this capability level require stronger cyber safeguards before they can be generally released,” the company noted in a press release. “We’re making swift progress on developing these safeguards and expect to be able to bring Mythos-class models to all our customers in the coming weeks.”