According to New York-based independent asset manager World Trade Securities, Anthropic currently holds $132 billion in cash.
Adding roughly $140 billion from a potential IPO, $77 billion committed by Google, Amazon, and Broadcom, and the company's own operating cash flow — generated by a business whose revenue is growing 14-fold annually — its cash reserves could approach $400 billion by the end of 2027.
This level of financial firepower has few peers anywhere in the world, and all of it is aimed at a single target: computing power. The winner of this race will be whoever can build the most compute capacity. Anthropic is poised to hold the deepest war chest in the AI sector outside the major tech giants.
In addition, Anthropic's lock-up arrangement is highly unusual: insider shares will be released in tranches over a full year after the IPO, with most unlock dates scheduled after earnings releases.
The specific schedule is as follows:
- Day 180 after listing: All remaining shares under standard lock-up terms are released.
- Day 365 after listing: All remaining shares are fully unlocked.
Anthropic's S-1 prospectus clearly shows where AI money is flowing:
- Broadcom: $161 billion
- Google: $114.5 billion
- Amazon: $110 billion
- SpaceX: up to $84.5 billion
- Microsoft: $44.9 billion
- AMD: 2 gigawatts of compute (amount undisclosed)
Together, these lock in roughly $500 billion in compute orders, covering all major chipmakers. No other AI lab has such a diversified and multi-source compute procurement footprint. Every dollar Claude earns ultimately translates into backlog orders for these tech giants.
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