Amazon and Alphabet Poised to Benefit from Anthropic's $2 Trillion IPO

Anthropic is reportedly gearing up for an initial public offering (IPO) by early November, which could fetch a valuation of roughly $2 trillion.

Two stocks positioned to benefit from this event are Amazon (AMZN) and Alphabet (GOOGL), both of which hold minority stakes in Anthropic.

Amazon's stake was built through convertible notes purchased between 2023 and 2025, as well as $5 billion in nonvoting preferred stock added in Q2 2026.

The company can profit not only from equity upside but also from its long-term commitment to supply Anthropic with more than $100 billion worth of AWS services over the next decade.