Anthropic's prospectus discloses: cloud channels contributed 48% of first-half revenue, and it has committed to paying massive compute fees to Google, Amazon, and Microsoft
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Anthropic disclosed in its initial public offering filing that its business of distributing Claude through Amazon, Google, and Microsoft cloud accounts accounted for 48% of its revenue in the first half of 2026, far above 11% in 2023. The company posted second-quarter revenue of $11.6 billion and an operating profit of $974 million, but its first-half sales, marketing, and partner costs rose to $3.2 billion from $120 million a year earlier, including $2.7 billion in additional payments to channel partners. The filing also shows that Anthropic has committed to paying Google at least $114.5 billion by 2033, Amazon $110 billion by 2036, and Microsoft $44.9 billion, and it notes that these cloud providers are simultaneously investors, customers, distribution partners, and competitors, a relationship that has already drawn antitrust scrutiny.
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The S-1 filing discloses the channel revenue share and long-term compute commitments, offering a clear view of how tightly Anthropic is bound to the three major cloud providers.
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Anthropic PBC正越来越依赖Alphabet公司旗下谷歌、亚马逊公司和微软公司向客户分销其人工智能技术，尽管这三家公司既是Anthropic的竞争对手，也是其投资者和重要算力供应商。
亚马逊、谷歌和微软的客户可以通过已有的云账户购买Anthropic旗下Claude AI模型的使用权。云服务商向客户收费，扣除渠道费用后，再将余款转给Anthropic。根据Anthropic周一公布的首次公开募股申请文件，这项业务占该AI初创公司2026年上半年营收的48%，远高于2023年的11%。
这种模式推动Anthropic快速增长。公司第二季度营收达到116亿美元，并录得9.74亿美元营业利润。
不过，Anthropic支付给三家云服务商的费用也在迅速累积。这家AI实验室今年上半年的销售、营销和合作伙伴成本由上年同期的1.2亿美元飙升至32亿美元，主要原因是向渠道合作伙伴支付的费用增加27亿美元；这一群体包括上述云服务商。
与此同时，S-1注册文件也对相关风险提出警告。Anthropic把这些云服务商同时描述为“投资者、客户、分销合作伙伴和竞争对手”。该公司提醒，这些企业“能够了解我们的定价和商业条款”。文件还称，云服务商可能偏向自己的AI模型，而Anthropic与它们之间的关系已经引起反垄断审查，并可能招致更多审查。
Anthropic在算力方面也依赖这些公司。无论是否实际使用相关算力容量，该公司都已承诺，到2033年向谷歌支付至少1，145亿美元，到2036年向亚马逊支付1，100亿美元，并向微软支付449亿美元。这些数字进一步凸显Anthropic与三大科技巨头之间亦友亦敌的关系。 news_keyword_pub,usstock,MSFT&GOOG&AMZN 正文下iframe 正文下iframe 总声明 总声明 文末二维码 start 文末二维码 start
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