Anthropic's IPO Is Coming — Here Are 4 Public AI Stocks Already Powering Its Growth

Anthropic Eyes Public Markets While Revenue Surges Past $30 Billion

Artificial intelligence company Anthropic, the creator of the Claude AI model, has filed a draft registration statement with the Securities and Exchange Commission signaling its intent to go public. But the IPO hasn't happened yet — and in the meantime, investors curious about the AI infrastructure driving Claude's explosive growth already have access to publicly traded companies sitting at the center of that story.

Anthropic's momentum is hard to ignore. The company recently disclosed that its annualized revenue has roughly tripled since late 2025, surpassing $30 billion in early 2026. That growth is being fueled in large part by accelerating enterprise adoption of AI agents, including Claude Cowork, which is pushing the company to aggressively expand its computing capacity.

The Four Companies Scaling Claude's Infrastructure

Amazon (NASDAQ: AMZN)

Amazon has been one of Anthropic's most significant partners since 2023. Anthropic currently deploys more than one million Amazon Trainium 2 chips to train and operate Claude — a massive commitment that reflects the depth of this relationship.

As of April 2026, Amazon had invested $13 billion in Anthropic, with commitments to potentially reach $20 billion. In return, Anthropic agreed to spend over $100 billion on Amazon Web Services over the next decade, including up to 5 gigawatts of compute capacity. To put that figure in context, Anthropic's spending pledge represents roughly three-quarters of AWS's trailing-twelve-month revenue.

AWS itself is performing strongly. First-quarter revenue from the cloud division surged 28% year over year to $37.6 billion, and Amazon's broader chip business exceeded $20 billion in annualized revenue, growing at triple-digit rates.

Alphabet (NASDAQ: GOOG, GOOGL)

In October 2025, Anthropic announced it would also integrate up to one million of Alphabet's Tensor Processing Units (TPUs) into its compute operations. This move diversifies Claude's infrastructure across multiple chip architectures, with Google's TPUs offering strong performance-per-dollar metrics for specific AI workloads compared to traditional GPUs.

The demand for Google Cloud infrastructure is reflected in its financials. Last quarter, Google Cloud revenue jumped 63% year over year, and the division's backlog doubled to $460 billion — a figure that illustrates the scale of enterprise commitments flowing toward Alphabet's cloud platform.

Beyond cloud services, Alphabet's position spans consumer applications and enterprise AI tools, with seven products serving over 2 billion users each.

Broadcom (NASDAQ: AVGO)

Running massive AI data centers at the scale Amazon and Alphabet operate requires enormous quantities of specialized chips and high-speed networking equipment — and that's where Broadcom enters the picture.

Broadcom recently announced an agreement to supply multiple generations of TPUs and AI networking gear to Google. Through this arrangement, Anthropic is expected to gain access to multiple gigawatts of next-generation TPU capacity beginning in 2027.

Broadcom's financial trajectory reflects surging AI demand. The company's total revenue grew 48% year over year in its most recent quarter, with AI chip revenue more than doubling. Looking further ahead, Broadcom projects AI chip revenue — excluding its networking and software segments — to exceed $100 billion in fiscal 2027. That figure would represent more than double the company's trailing-twelve-month total revenue of $75 billion.

Nvidia (NASDAQ: NVDA)

Anthropic's compute strategy deliberately spans multiple chip platforms, and Nvidia's GPUs remain a core component alongside custom silicon from Amazon and Alphabet. Maintaining access to diverse hardware options allows Anthropic to handle demand spikes and optimize performance across different workloads.

Nvidia's data center segment continues to post remarkable numbers, with revenue climbing 85% year over year in its most recent quarter. The company is preparing to scale its next-generation Vera Rubin platform later in 2026, specifically targeting agentic AI workloads — the same category driving Claude's commercial momentum.

Nvidia's CUDA software ecosystem and its annual hardware release cadence are widely cited by analysts as key factors in maintaining its competitive positioning in the AI chip market.

Why This Infrastructure Story Matters

The companies enabling Anthropic's growth aren't peripheral players — they represent the full technology stack powering modern AI at scale: custom silicon, networking hardware, cloud platforms, and enterprise software. As AI adoption continues to deepen across industries, the infrastructure required to support it is growing proportionally.

Anthropic's IPO filing indicates that the company's trajectory may soon offer investors a more direct avenue into the Claude ecosystem. Until then, the four companies outlined above represent different angles on the same underlying trend — the ongoing buildout of AI computing infrastructure that shows no signs of slowing.