Anthropic raised $65 billion in a Series H funding round, lifting its valuation to $965 billion. TechCrunch reported the fundraising is likely to be the company’s last financing before an IPO. The round was co-led by Altimeter Capital, Dragoneer, Greenoaks, Sequoia Capital, Capital Group, Coatue and D1 Capital Partners, with other institutional investors participating. Samsung, SK Hynix and Micron also joined. Anthropic said it will use the funds to expand safety and interpretability research, increase computing and expand products and partnerships.

U.S. fintech firm Mercury has received conditional approval from the Office of the Comptroller of the Currency for its national bank charter application, moving it to the next stage of launching Mercury Bank. The company said it will keep working with regulators to meet remaining requirements. Mercury is also seeking federal deposit insurance from the FDIC and plans to apply to the Federal Reserve to convert into a bank holding company.