Anthropic Could Become the Most Valuable Software Company in History. These Stocks Have Exposure to the AI Giant.

Anthropic confidentially submitted its draft S-1 filing to the U.S. Securities and Exchange Commission (SEC) on June 1, paving the way for a potential initial public offering (IPO). The company behind Claude, one of the top artificial intelligence (AI) apps, could become the largest software IPO in history after its most recent funding raise valued the business at $965 billion.

If private funding is any indication, Wall Street will be fighting for shares when the company eventually begins trading (market watchers and financial analysts expect the company to execute the IPO as early as fall 2026). But you don't have to invest directly in Anthropic to have exposure.

Here are five stocks that stand to benefit from their own investments and relationships with the hot AI company.

Image source: Getty Images.

1. Amazon

Cloud computing leader Amazon (NASDAQ: AMZN) began investing in Anthropic in 2023. Amazon has invested approximately $13 billion to date, with plans to invest up to $20 billion more. The two companies also work closely together. Anthropic uses both Amazon's cloud services and its Trainium AI chips to run its Claude models.

Amazon's stake in Anthropic has grown significantly alongside Anthropic's private market valuation. Amazon's stake was worth roughly $74 billion, according to a filing in April. But that was before Anthropic's most recent raise in May. Today, Amazon's investment in Anthropic could exceed $100 billion, and it may rise further if Anthropic goes public.

2. Alphabet

Tech giant Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) was another one of Anthropic's early supporters and investors. The company owns an estimated 14% stake in Anthropic. Based on its most recent funding round, it could value Alphabet's equity at roughly $135 billion today. Although Alphabet competes with Anthropic through its Gemini AI, the two companies work closely together.

Anthropic is one of Alphabet's key cloud customers and should remain so. The company has reportedly committed to spending $200 billion on Google's cloud services and tensor processing unit (TPU) chips over the next five years. That could be a huge growth catalyst for Alphabet alongside its lucrative stake in the company.

3. Salesforce

Software company Salesforce (NYSE: CRM) has also gotten in on Anthropic's funding rounds over the years, though not to the extent of Amazon or Alphabet. Salesforce reportedly invested $50 million back in 2023, and subsequent investments have built up a stake worth approximately $5 billion today. That's a huge return on investment and an asset that management could eventually monetize once Anthropic goes public.

Salesforce is embracing AI, proactively bringing it to customers. Anthropic's Claude is a foundational model in the company's AI agent product suite, Agentforce 360. Fears over how AI could disrupt the broader software industry have weighed on the stock over the past year. However, Salesforce anticipates revenue growth accelerating over the second half of fiscal year 2027, making it a potential rebound candidate with some sneaky investment exposure to Anthropic.

4. Nvidia

Chips make AI go, so Nvidia (NASDAQ: NVDA) has been paramount to Anthropic's success with Claude. That will continue, as Anthropic plans to use enough Grace Blackwell and Vera Rubin chips for an entire gigawatt of computing capacity. Even though Anthropic has sourced custom AI chips to meet its computing needs, Nvidia remains the runaway leader in standardized AI graphics processing units (GPUs), so this shouldn't be a surprise.

Nvidia has invested in Anthropic, forming an equity-tied relationship with one of its best customers. Nvidia was late to the party; it participated in a funding round late last year, investing up to $10 billion, which is likely worth far more following Anthropic's most recent raise. It still won't move the needle for Nvidia, but it gives investors some Anthropic exposure, and that's just a bonus for owning one of the market's top AI stocks already.

5. Microsoft

Most investors associate Microsoft (NASDAQ: MSFT) with OpenAI, Anthropic's rival, because of their long, high-profile relationship. However, Microsoft dipped its toes into Anthropic, investing up to $5 billion into the company late last year alongside Nvidia. Anthropic is committed to spending $30 billion on Azure cloud services, forming a working relationship between the two. Claude is also available through Microsoft Copilot.

Although Microsoft's stake has grown in value since last year, it's probably not large enough to matter much for a company with a multitrillion-dollar market cap. That said, Microsoft is one of the best AI stocks for its direct AI dealings, as well as an indirect path to owning exposure to Anthropic and OpenAI until either company goes public.

Justin Pope has positions in Alphabet and Microsoft. The Motley Fool has positions in and recommends Alphabet, Amazon, Microsoft, Nvidia, and Salesforce. The Motley Fool has a disclosure policy.