Anthropic Raises $26 Billion From Tech Giants Ahead of IPO

Anthropic is raising $26 billion through a private placement of Class N common stock from seven major technology companies, including Google, Nvidia, Microsoft, AMD, Broadcom, Micron Technology, and TSMC Partners. This funding occurs alongside the company's proposed initial public offering, which plans to sell 825 million Class A common stock shares with an expected pricing date of November 18, 2026, and a price range of $70 to $78 per share.

As part of this activity, Alphabet Inc.'s Google division will invest $10 billion upon the IPO, fulfilling a portion of a $20 billion financing commitment made in March 2026. At a midpoint price of $74.00, Google would acquire 135.1 million shares, bringing its total Class N holdings to 1.79 billion shares, or roughly 13.7% of outstanding Class A and Class N shares. Amazon.com Inc. remains the largest shareholder with approximately 1.92 billion Class N shares. These Class N shares provide economic exposure but no voting rights.

Anthropic intends to use the proceeds for working capital, operating expenses, and infrastructure expenditures. The company is expanding its computing capacity using a shared hardware pool that includes Google tensor processing units, Amazon Web Services Trainium chips, and GPUs from Nvidia and AMD. Additionally, Anthropic has committed to approximately $121.3 billion in Google Cloud hosting through July 2033.