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Tuesday, 29 September 2026
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IPO filing: Anthropic routed 47% of its sales, or ~$2.16B

IPO filing: Anthropic routed 47% of its sales, or ~$2.16B, in 2025 through cloud partners Amazon and Google; analysis: it paid ~$351M back in distribution fees

TL;DRAnthropic paid billions to Amazon and Google to distribute its AI, then paid them back hundreds of millions in fees.

Why it matters: Shows Anthropic's profit margins are thin and it's heavily dependent on two companies that are also its competitors.

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