Anthropic's valuation reaches $965 billion as it files confidentially for IPO; Amazon and Alphabet positioned as major beneficiaries through their investments and cloud service commitments.

Anthropic filed confidentially with the Securities and Exchange Commission on June 1 for an upcoming IPO. The company's valuation has reached $965 billion, and its annual revenue run rate hit $47 billion (up from $14 billion in February).

Amazon and Alphabet are major investors in Anthropic. Amazon has invested $13 billion total and committed to investing as much as $20 billion more depending on commercial milestones; Alphabet plans to invest as much as $40 billion and holds an estimated stake now worth more than $100 billion. Additionally, Anthropic committed to spending $100 billion on Amazon Web Services technologies over the coming 10 years.

Both Amazon and Alphabet offer access to Claude (Anthropic's AI assistant) to their customers and may benefit as Anthropic grows and invests further in computing capacity to support the platform's expansion.