Eight Public Companies Hold Stakes in Anthropic Ahead of IPO

Anthropic is preparing for a public offering that could target a valuation near two trillion dollars, with reports suggesting a raise exceeding eighty-six billion dollars as soon as mid-October. While retail investors cannot purchase the private equity directly, eight publicly traded companies have secured significant stakes through strategic investments and venture capital arms.

These holdings create a direct financial link between the AI developer’s performance and the earnings reports of established tech giants. The investments range from multi-billion dollar infrastructure partnerships to smaller venture bets that have appreciated substantially, offering investors a way to track the company’s growth before it lists on a public exchange.

Major Tech Giants Lead Investment

Amazon stands as the largest backer, having committed up to thirty-three billion dollars. This includes a fresh five billion dollar tranche tied to an agreement for Anthropic to spend over one hundred billion dollars on AWS cloud technology over the next decade. Amazon’s recent filings have already recorded billions in fair-value gains as its notes converted to equity.

Alphabet has invested thirteen-point-three billion dollars since late 2022, with commitments for up to forty billion dollars more in cash and cloud compute capacity. The company’s filings mark its combined private stakes in Anthropic and SpaceX at roughly one hundred twenty-four billion dollars. Microsoft and Nvidia also hold substantial positions, with Microsoft committing up to five billion dollars for an Azure partnership and Nvidia pledging up to ten billion dollars to deepen its ties across major AI labs.

Venture Stakes Show Significant Gains

Salesforce and Zoom have seen their venture capital investments grow into major assets. Salesforce’s initial roughly fifty million dollar investment has appreciated to a stake worth about five-point-one billion dollars. This position contributed a two-point-five-three dollar gain to adjusted earnings per share in its second quarter, helping drive a twenty-three percent increase in shares during that session.

Zoom’s approximately ninety-seven million dollar bet from May 2023 has ballooned to a three-point-one-three billion dollar stake as of its latest filing. Similarly, SK Telecom’s original one hundred million dollar check from 2023 is now worth roughly two-point-five billion dollars, with management adding to the position in 2026 rather than selling ahead of the potential listing.

Indirect Exposure Carries Valuation Risks

ServiceNow joined the developer’s thirteen billion dollar Series F in September 2025 and recently embedded the company's models into its workflow-automation platform. However, as reported by GN stocks/nasdaq, none of these eight tickers represent pure plays on Anthropic. The exposure remains diluted within larger businesses, and valuations are marked to private funding rounds rather than a live public market, introducing uncertainty into the financial statements.