Anthropic’s proposed listing highlights Amazon’s investments and Google’s option to buy shares as cloud marketplaces supplied 48% of the AI company’s revenue in the first half of 2026.
Anthropic’s Oct. 26 Form S-1 describes a March 2026 agreement under which Google may purchase up to $10 billion of Class N common stock in a private placement at the IPO price. Buying shares would cut the funding room left under a linked financing agreement. The S-1 sets out a possible transaction, but does not record a purchase or provide enough final share data to rank post-listing owners.
Amazon’s second-quarter 2026 Form 10-Q records $8 billion invested in Anthropic convertible notes from the third quarter of 2023 through the fourth quarter of 2025. It separately reports $5 billion in Series G and $5 billion in Series H nonvoting preferred stock during the second quarter of 2026. The three amounts total $18 billion as of June 30, 2026. Amazon said the Series H investment left $15 billion available under a financing facility capped at $20 billion.
The cloud relationship also carries a long-term spending commitment. Anthropic agreed to spend at least $110 billion on Amazon Web Services (AWS) from May 2026 through April 2036. Amazon is the supplier named in the commitment, and Anthropic is responsible for the spending. Cloud-provider marketplaces generated 48% of Anthropic’s revenue in the first half of 2026, compared with 11% across all of 2023. The filing places Amazon, Google and Microsoft in two roles: cloud providers connected to Anthropic’s business and competitors to the company.
Anthropic reported $16.286 billion in revenue and an $80.748 billion net loss for the six months ended June 30, 2026. It attributed $72.4 billion of the loss to fair-value changes in convertible notes, derivative liabilities and simple agreements for future equity (SAFEs). EconoTimes has previously covered the unresolved terms in Anthropic’s IPO filing.
Anthropic said it intends to list Class A shares on the Nasdaq Global Select Market under the symbol ANT. It has not set the share count or price range, and the registration statement must become effective before shares can be sold.
