Anthropic's IPO filing revealed that sales through cloud partners Amazon, Google, and Microsoft accounted for 48% of the AI startup's revenue in the first half of 2026.
The company generated $11.6 billion in sales and a $974 million operating profit during the second quarter while expanding its compute commitments to major tech giants.
Anthropic's S-1 filing cautioned investors about frenemy dynamics, noting that its cloud partners are simultaneously investors, customers, distributors, and competitors.