Anthropic’s IPO could value the AI firm at $1 trillion, handing Amazon a $200B windfall

Amazon’s stake in Anthropic could be worth more than $200 billion if the AI company’s IPO lands at a $1 trillion valuation. Anthropic, the company behind the Claude AI model, saw its valuation surge to roughly $965 billion following a June 2026 funding round. Amazon, which holds an estimated 15% to 21% equity stake, is now sitting on a position valued somewhere between $135 billion and $160 billion at current levels, with the potential to exceed $200 billion once public markets get their hands on it. The anatomy of a mega-bet Amazon has committed between $8 billion and $20 billion toward Anthropic, a financial relationship deeply intertwined with Amazon Web Services. In the first quarter of 2026 alone, Amazon booked $16.8 billion in pre-tax gains from its Anthropic association. Of that figure, $12.3 billion came from revaluation of its equity stake. The IPO filing is expected to be confidential, with a potential listing targeted for fall 2026. Amazon isn’t the only tech giant with skin in the game. Alphabet holds an estimated 15% stake in Anthropic as well, meaning Google’s parent company would also reap a substantial windfall from a successful listing. Why crypto investors should ...