Anthropic's IPO could mint AI fortunes for Alphabet, Amazon
At a potential $1.5 trillion valuation, Anthropic's stakes could be worth about $16 per Alphabet share and $27 per Amazon share, while its reported cloud commitments total roughly $221 billion.
1. Potential stake values
As Anthropic moves closer to a public listing, investors are weighing the value of its holdings for Alphabet and Amazon against the startup's importance to their cloud businesses. Scotiabank estimates that at a $1.5 trillion valuation, Anthropic's stake could be worth about $16 per Alphabet share, or roughly 5% of its stock value, and about $27 per Amazon share, nearly 10%; the brokerage said Amazon stands to gain more from its ownership stake.
2. Cloud commitments
Anthropic has reportedly committed roughly $111 billion to Google Cloud and about $110 billion to Amazon Web Services. The commitments account for about 22% of each cloud unit's disclosed backlog.
3. IPO valuation expectations
Some investors at Anthropic's investor day discussed a valuation of about $1.5 trillion, down from prior expectations of roughly $2 trillion, after the company disclosed slower third-quarter revenue growth. Anthropic said third-quarter revenue rose 45% from the prior quarter to $16.8 billion and that it was profitable on an adjusted basis during the period.
