Anthropic's IPO filing shows the company is seeking to raise $64 billion in an initial public offering that could value the AI firm at up to $1.4 trillion, according to Reuters calculations cited by The Economic Times.

The filing identifies Amazon and Google parent Alphabet as the two largest backers, and Reuters calculates their stakes would be worth a combined $411 billion if the offering prices at the top of the proposed range.

Seven technology companies, including Google, Nvidia, AMD and Microsoft, have also agreed to buy $26 billion of non-voting shares at the IPO price in a separate concurrent private placement, the filing showed.

The stakes reflect deeply entangled commercial partnerships.

Amazon has invested at least $13 billion in Anthropic and in April agreed to invest up to an additional $20 billion, while Anthropic committed to spend more than $100 billion on Amazon's cloud services over ten years, according to The Economic Times.

Alphabet has committed up to $40 billion, including an initial $10 billion investment announced in April, with the partnership providing Anthropic cloud infrastructure and access to Google's AI chips used to train and run Claude models.

Former Google chief executive Eric Schmidt was among the earliest outside investors, putting tens of millions of dollars into Anthropic's first funding round in 2021.

The private placement reveals that Anthropic's competitors are also buying into its listing. Microsoft agreed to purchase $1 billion of non-voting shares even though it is a major backer of OpenAI, Anthropic's chief rival, The Economic Times reports.

Nvidia agreed to buy $10 billion of the non-voting shares, and AMD $2.5 billion, with the November 2026 arrangement reducing AMD's equity commitment under a hardware supply agreement to that figure.

In May, Anthropic raised $65 billion at a $965 billion valuation, which for the first time put it ahead of OpenAI, and the IPO filing now values the company even higher.

Anthropic is entering the listing with fresh momentum.

Chosunbiz reports that on November 9 the company released Claude Mythos 5.2 and Claude Fable 5.2, which generate answers up to 30% faster than version 5.1, add a Fast mode up to 2.5 times quicker, and cut usage fees to $8–$40 per million tokens, about 20% lower than before.

According to Chosunbiz, Anthropic's evaluation results show the new models beat OpenAI's GPT-6 Astra and Google's Gemini 4 Carbon on coding, cybersecurity and scientific research benchmarks, and Claude Fable 5.2 topped Artificial Analysis's composite intelligence index with a score of 65, ahead of Gemini 4 Carbon at 60.

The company is pushing the IPO this month despite selling in AI-related stocks, per Chosunbiz.