Opinion: Amazon and Alphabet could profit from Anthropic IPO expected in October
Anthropic, whose Claude family of large language models is widely used, is expected to go public as early as October. Media reports say the company may raise up to $100 billion and target a $2 trillion valuation, which would be the largest IPO ever.
Key points
- Amazon invested $18 billion in Anthropic, can add $15 billion, and expects >$100 billion AWS spend over ten years
- Alphabet invested $13 billion, can add $30 billion, and has $200 billion cloud/semiconductor commitment with Anthropic
- AWS Q2 revenue $42 billion (+37% YoY) and Google Cloud $25 billion (+82% YoY) give exposure to Anthropic’s IPO
Amazon, an early investor, has put $18 billion into Anthropic and holds an option for an additional $15 billion. Its stake was valued at $190.4 billion in July, and the startup has pledged to spend more than $100 billion with AWS over the next decade. AWS revenue jumped 37% YoY to $42 billion in Q2, while Amazon’s AI‑related capex forecast is $220 billion.
Alphabet has invested $13 billion and can add $30 billion, with a possible extra $10 billion according to a filing. Its stake rose to $124 billion, giving Google roughly a 15% share. Anthropic will use 3.5 GW of TPU compute from 2027 and has committed $200 billion in cloud and semiconductor spending with Google over five years. Google Cloud revenue surged 82% YoY to $25 billion in Q2, and its capex outlook is $200 billion. Both cloud giants offer Claude models to their customers, linking their growth to Anthropic’s upcoming IPO.
Got $5,000?: 2 Magnificent AI Cloud Stocks to Buy Before the Anthropic IPO
fool.com · 21 September 2026
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Coverage and discussion
3sources- Prediction: The Cheapest Mega Cap in the AI Trade, Alphabet Could Hit $600 in 2027Press · 247wallst.com ·
- Here’s What to Expect From AI’s Two Biggest 2026 Spenders in 2027Press · 247wallst.com ·
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