Anthropic IPO filing: 47% of 2025 sales, ~$2.16B, went through Amazon and Google

Anthropic's IPO prospectus shows that 47% of its 2025 sales, roughly $2.16B, were routed through cloud partners Amazon and Google, with about $351M paid back in distribution fees. The filing highlights the company's reliance on a small group of customers and tech giants as a key risk.

• 47% of Anthropic's 2025 sales, ~$2.16B, flowed through Amazon and Google
• It paid about $351M back to cloud partners in distribution fees
• The IPO filing flags dependence on a narrow set of customers as a key risk