AI demand apex · multi-silicon compute
Anthropic
The AI lab behind Claude and the other apex of generative-AI demand. Google is investing up to $40B (cash + compute, 5GW, 1M TPUs) and Amazon up to $25B (5GW of Trainium), and it spreads its training stack across NVIDIA GPUs, Google TPUs and Amazon Trainium. Run-rate revenue ~$30B. Private (~$350B valuation).
Updated Sep 4, 2026 4 AI consumers· 3 recurring
Per the valuechain.wiki graph, Anthropic is directly linked to 7 companies (5 supply, 1 revenue, 3 investment relationships) and reaches 52 companies within two hops; the links are backed by 14 dated sources, 2 of them primary filings (as of 2026-09-04).
AnthropicAnnualized revenue run-rate ~$47B
Financials & Segments
- Total revenue · Annualized revenue run-rate ~$47B (May 2026, up from ~$9B at end-2025); ~$965B valuation (Series H, June 2026). Claude Opus 4.7, Sonnet 4.5
- Customer concentration · Large compute commitments to Google, Amazon, NVIDIA and Broadcom.
- Segments · Claude API · Enterprise · Subscriptions
Revenue from
- Shopify High confidence
Supplies its Claude (Sonnet 4.5) models to Shopify's Sidekick and Magic via Google Cloud Vertex AI — an enterprise adoption at a large commerce platform that broadens its revenue base into consumer e-commerce workloads.Confirms EN Anthropic Published Oct 1, 2025: Anthropic case study — Shopify Sidekick built on Claude Sonnet - enterprise & API customers Medium confidence· Revenue ~$30B · 2026 · run-rate revenue
Claude API/enterprise revenue (~$30B run-rate).Confirms EN VentureBeat Published May 28, 2026: Anthropic revenue run-rate surge (~$47B annualized, May 2026)Confirms EN TechCrunch Published Apr 24, 2026: Google to invest up to $40B in Anthropic (cash + compute) - consumers subscription (Claude) Medium confidence
Claude consumer/pro subscription revenue.Confirms EN Anthropic Published Jun 1, 2025: Anthropic Claude pricing (Pro, Max, Team, Enterprise subscriptions)
Pays to
- Amazon High confidence
Uses 5GW of AWS Trainium; Amazon invests up to $25B ($100B AWS commitment). - Alphabet (Google) High confidence
Uses 5GW of Google Cloud TPUs (1M); Google invests up to $40B.Confirms EN TechCrunch Published Apr 24, 2026: Google to invest up to $40B in Anthropic (cash + compute)Confirms EN Anthropic Published Apr 21, 2026: Anthropic expands Google/Broadcom partnership for multi-GW computeConfirms KO Global Economic Published Feb 19, 2026: Anthropic to pay Amazon/Google/MS $6.4B in Claude fees - Broadcom Medium confidence
Expands custom compute via Broadcom, the Google-TPU design partner.Confirms EN Anthropic Published Apr 21, 2026: Anthropic expands Google/Broadcom partnership for multi-GW compute - NVIDIA Medium confidence
Uses NVIDIA GPUs as a secondary training/inference substrate.Confirms EN Anthropic Published Apr 21, 2026: Anthropic expands Google/Broadcom partnership for multi-GW compute - CoreWeave Medium confidence
Rents GPU-cloud compute from CoreWeave.
Investors
- Amazon High confidence
Amazon invests up to $25B in Anthropic (AWS). - Alphabet (Google) High confidence
Google invests up to $40B in Anthropic (cash + TPU).Confirms EN TechCrunch Published Apr 24, 2026: Google to invest up to $40B in Anthropic (cash + compute) - SK Telecom High confidence
SK Telecom invested for 2% in 2023, diluted to ~0.3% after later rounds.Confirms KO The Electronic Times (ETNews) Published Aug 13, 2023: SKT invests $100 million in US AI firm Anthropic to co-develop multilingual LLMConfirms EN SK Telecom (press release) Published Aug 13, 2023: SKT Invests USD 100 Million in Anthropic and Joins Forces with the Company to Promote AI Innovation
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Shopify | lead1 | +21.7 | -74.8 | +124.4 | +36.5 | +51.4 | -9.9 |
| Anthropic | node | · | · | · | · | · | · |
| SK Telecom | benef1 | +7.9 | -12 | +15.8 | +15.5 | +37.5 | +29.7 |
| CoreWeave | benef1 | · | · | · | · | · | +24.8 |
| Amazon | benef1 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +12 |
| SanDisk | benef2 | · | · | · | · | · | +633 |
| Seagate Technology | benef2 | +87.5 | -51.4 | +69.1 | +4.1 | +225.3 | +209.1 |
| Marvell | benef2 | +84.6 | -57.5 | +63.7 | +83.8 | -22.8 | +163.4 |
| Wiwynn | benef2 | +24.7 | -22.3 | +206.4 | +3.5 | +64.4 | +120.2 |
| Astera Labs | benef2 | · | · | · | · | +25.6 | +86.6 |
| Corning | benef2 | +5.9 | -11.6 | -1.2 | +60.6 | +87.8 | +77.2 |
| Vertiv | benef2 | +33.8 | -45.3 | +251.8 | +136.8 | +42.8 | +73.2 |
| Arista Networks | benef2 | +97.9 | -15.6 | +94.1 | +87.7 | +18.5 | +47.9 |
| Occidental Petroleum | benef2 | +67.7 | +119.1 | -4.1 | -15.9 | -14.9 | +47.4 |
| GE Vernova | benef2 | · | · | · | · | +99 | +44.4 |
| Caterpillar | benef2 | +16 | +18.6 | +25.9 | +24.7 | +60.3 | +42.9 |
| FedEx | benef2 | +0.7 | -31.6 | +49.1 | +13.5 | +5.1 | +39.6 |
| Ciena | benef2 | +45.6 | -33.8 | -11.7 | +88.4 | +175.8 | +37.3 |
| Jabil | benef2 | +66.4 | -2.5 | +87.4 | +13.3 | +58.7 | +36.3 |
| Alchip Technologies | benef2 | +14.3 | -8.7 | +365.1 | -18.9 | +0.8 | +36.1 |
| Super Micro | benef2 | +38.8 | +86.8 | +246.2 | +7.2 | -4 | +35.3 |
| Globalstar | benef2 | +241.2 | +14.7 | +45.9 | +6.7 | +96.6 | +34.9 |
| Eaton | benef2 | +46.7 | -7.2 | +56.2 | +39.5 | -2.8 | +30.1 |
| Quanta Computer | benef2 | +22.2 | -12.8 | +254.5 | +12.7 | +8.9 | +28.5 |
| Digital Realty | benef2 | +30.7 | -41 | +39.9 | +35.9 | -10.1 | +23.4 |
| Core Scientific | benef2 | · | · | · | · | +3.6 | +22.9 |
| Schneider Electric | benef2 | +25.9 | +1.6 | +25.8 | +36.1 | +0.5 | +20.7 |
| Foxconn (Hon Hai) | benef2 | -5.1 | +2.8 | +7.8 | +80.1 | +26.9 | +19.6 |
| Credo Technology | benef2 | · | · | +46.3 | +245.2 | +114.1 | +18.5 |
| ABB | benef2 | +23.9 | +7.3 | +18.9 | +39 | +36.1 | +18.4 |
| Entergy | benef2 | +17.1 | +3.6 | -6.1 | +56 | +25.3 | +18.2 |
| Norfolk Southern | benef2 | +27.3 | -15.6 | -1.6 | +1.6 | +25.6 | +15.6 |
| Colgate-Palmolive Company | benef2 | +2.1 | -5.4 | +3.8 | +16.6 | -11 | +14.4 |
| Cummins | benef2 | -1.7 | +14.1 | +1.7 | +48.9 | +49.4 | +11 |
| United Parcel Service, Inc. | benef2 | +30 | -16.2 | -6 | -15.9 | -15.9 | +8 |
| Celestica | benef2 | +37.9 | +1.3 | +159.8 | +215.2 | +220.3 | +5.7 |
| Procter & Gamble | benef2 | +20.5 | -5 | -0.9 | +17.3 | -12.3 | +4.5 |
| Amorepacific | benef2 | -30.1 | -5.7 | -18.4 | +9.9 | +8.2 | +4.1 |
| Exelon | benef2 | +41.5 | +8.3 | -14 | +9.2 | +20 | +1.9 |
| Vistra | benef2 | +19.6 | +5.1 | +70.7 | +261.5 | +17.7 | -7.2 |
| Blackstone | benef2 | +107.1 | -40 | +82.7 | +35.1 | -7.8 | -8.9 |
| Fabrinet | benef2 | +52.7 | +8.2 | +48.4 | +15.5 | +107.1 | -10.5 |
| IonQ | benef2 | · | -79.3 | +259.1 | +237.1 | +7.4 | -11.9 |
| Abbott Laboratories | benef2 | +30.5 | -20.7 | +2.3 | +4.8 | +12.9 | -11.9 |
| Talen Energy | benef2 | · | · | · | +214.8 | +86.1 | -15.4 |
| Quantum Computing Inc | benef2 | -75.8 | -55.7 | -39.5 | +1712.7 | -38 | -21.9 |
| D-Wave Quantum | benef2 | · | -85.3 | -38.9 | +854.5 | +211.3 | -36.6 |
| Nike | benef2 | +18.7 | -29 | -6 | -29.1 | -13.8 | -38.1 |
An AI demand apex (multi-chip compute; returns not tracked as it is private). A demand node buying vast compute for training and inference, whose spending lifts suppliers (SanDisk +858%, Samsung Electro-Mechanics +630%, AT&S AI infra). With OpenAI, a source of datacenter capex; with no stock, its demand shows only as a surge in the supply layer below.
Analysis generated from returns as of 2026-06-23