Anthropic is barreling toward what could be the largest IPO in history, with investors and bankers reportedly targeting a valuation near $2 trillion and a raise exceeding $86 billion when the offering launches as soon as mid-October — but retail investors still can’t buy Anthropic stock directly.
The next best thing: eight publicly traded companies that already hold direct equity stakes, several of which are big enough to move the parent stock on earnings day.
1. Amazon.com Inc (NASDAQ:AMZN) — Anthropic’s largest backer committed up to $33 billion total, including a fresh $5 billion tranche tied to an April 2026 deal in which Anthropic agreed to spend more than $100 billion on AWS cloud technology over the next decade. Amazon’s 10-Q already booked billions in fair-value gains as notes converted to equity.
2. Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) — Google invested $13.3 billion since late 2022 and committed up to $40 billion more in cash and Google Cloud TPU capacity. Alphabet’s own filings mark its combined Anthropic and SpaceX private stakes at roughly $124 billion.
3. Microsoft Corp (NASDAQ:MSFT) — Committed up to $5 billion in November 2025 alongside a new Azure compute partnership, part of a broader push to diversify beyond OpenAI.
4. NVIDIA Corp (NASDAQ:NVDA) — Pledged up to $10 billion the same week, a deal that helped push Anthropic’s valuation toward $350 billion at the time and deepened Nvidia’s ties across every major AI lab.
5. Salesforce (NYSE:CRM) — The software giant has invested through Salesforce Ventures in every Anthropic round since 2023, starting with roughly $50 million. The stake is now worth about $5.1 billion, and a $2.6 billion unrealized gain contributed $2.53 to adjusted earnings per share in its fiscal second quarter report, helping send Salesforce shares up 23% in a single session.
6. Zoom Communications (NASDAQ:ZM) — An approximately $97 million bet placed via Zoom Ventures back in May 2023 has ballooned to a $3.13 billion stake as of Zoom’s latest quarterly filing.
7. SK Telecom Co Ltd (NYSE:SKM) — The Korean telecom giant’s original $100 million check from 2023 has grown into a stake worth roughly $2.5 billion, and management added to the position in 2026 rather than sell ahead of a possible IPO.
8. ServiceNow (NYSE:NOW) — ServiceNow joined Anthropic’s $13 billion Series F in September 2025 and followed up with a January 2026 partnership embedding Claude into its workflow-automation platform for enterprise customers.
The Catch: None of these are pure plays — Anthropic exposure sits diluted inside the larger businesses with valuations marked to private funding rounds rather than a public market.
Anthropic’s own executives have not confirmed a listing valuation, even as its confidential S-1 moves through SEC review. But for investors unwilling to wait on the sidelines, these eight tickers already have skin in the game.
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