Anthropic's IPO filing shows half of revenue comes from Google, Amazon, and Microsoft

Anthropic's IPO filing reveals that 48% of its revenue in the first half of 2026 came from cloud marketplaces operated by Google, Amazon, and Microsoft, up from 11% in 2023. The AI company paid channel partners $2.7 billion more year-over-year, with second-quarter sales reaching $11.6 billion and operating profit of $974 million. The filing characterizes the cloud providers as investors, customers, distributors, and competitors. Amazon has invested about $18 billion in Anthropic with up to $15 billion more possible, while Google has invested about $23 billion with $20 billion in potential additional funding. Anthropic has committed to purchasing at least $114.5 billion in services from Google by 2033, $110 billion from Amazon by 2036, and $44.9 billion in computing resources from Microsoft.