Which Stocks Have the Biggest Exposure to Anthropic's Growth?

An Anthropic IPO is coming in the next few weeks, and there are a handful of stocks that are primed to benefit from Anthropic's growth. While some have been direct investors in them, others are supplying massive amounts of computing power.

But which stocks stand to benefit the most? Let's dive in.

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Alphabet and Amazon are double-dipping

Two of Anthropic's biggest investors are Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and Amazon (NASDAQ: AMZN). Both companies have invested billions into Anthropic and own an estimated 15% of the company, with Amazon owning more than Alphabet. If Anthropic hits a $2 trillion valuation at IPO, this means their stakes could be worth around $300 billion, not a bad investment gain at all.

Unless these two immediately start selling their shares, they will benefit big time from Anthropic's growth over the next few years.

But that's not the only way they're doing it.

Alphabet and Amazon are also major computing suppliers to Anthropic. Instead of running their workloads on one system, Anthropic has been known to deploy a hybrid approach where it runs workloads on Amazon and Alphabet's custom AI chips. It also has a sizable amount of Nvidia (NASDAQ: NVDA) hardware as well. As it expands, all three of these companies will benefit from Anthropic growing because it will require more computing power.

A fourth leg has also been added to Anthropic's computing triad, as it has collaborated with Broadcom (NASDAQ: AVGO) to design a custom AI chip of its own. This is another potential huge benefit to Anthropic's soaring revenue growth, and could be a major beneficiary if Anthropic decides that it likes its own custom AI chips over what companies like Amazon and Alphabet can offer.

So, of these four, which stands to benefit the most? I'd say it's Amazon and Alphabet. These two are double-dipping in Anthropic's potential, as they're both investing in it and selling a major amount of computing. While Nvidia also has a stake in Anthropic, it's not nearly the size of these two.

Regardless, a major AI lab like Anthropic going public will boost the entire industry, as Anthropic will now have access to a larger investment pool that will fund its build-out. This will benefit all four companies listed because their computing products will be in greater demand than before. A rising tide lifts all boats, and with OpenAI likely going public not too far in the future as well, the landscape for those involved in AI computing could be far different in 2027.

Keithen Drury has positions in Alphabet, Amazon, Broadcom, and Nvidia. The Motley Fool has positions in and recommends Alphabet, Amazon, Broadcom, and Nvidia. The Motley Fool has a disclosure policy.