# Alphabet’s stake in Anthropic could yield $210B if IPO hits $3T valuation > Source: > Published: 2026-06-26 14:02:15+00:00 # Alphabet’s stake in Anthropic could yield $210B if IPO hits $3T valuation Google's parent company turned a $3 billion AI bet into what might become one of the most lucrative venture investments in tech history Alphabet quietly built a 14-15% stake in Anthropic over the past three years. If the Claude maker’s IPO lands anywhere near a $3 trillion valuation, that position could be worth north of $210 billion on paper. For context, $210 billion is roughly the entire market cap of Netflix. And Alphabet got there by writing checks totaling about $3 billion between 2023 and 2025. ## The numbers behind the bet Anthropic confidentially filed its S-1 with the SEC on June 1, 2026, setting the stage for what’s shaping up to be one of the most closely watched IPOs of the year. The company’s last private valuation came in at approximately $965 billion, following a monster $65 billion funding round. Alphabet has committed up to $40 billion in new investment, with an initial $10 billion tranche at a $350 billion valuation. Amazon holds an even larger stake at roughly 21%, meaning Bezos’s empire stands to gain even more from a blockbuster debut. Salesforce rounds out the notable investor roster, though its position is considerably smaller. ## What this means for Alphabet’s broader portfolio Google has its own AI efforts through DeepMind and Gemini. Investing billions into a direct competitor raised eyebrows when the first checks were written. The logic, though, is becoming clearer: Alphabet essentially hedged its AI bets. If Google’s internal models win the AI race, great. If Claude emerges as the industry standard, Alphabet still profits handsomely through its equity stake. ## The crypto angle: decentralized AI tokens catch a bid Decentralized AI tokens have seen increased trading interest surrounding Anthropic’s IPO developments and related regulatory news, with traders buying AI-themed cryptocurrencies as a proxy bet on the broader AI boom, particularly tokens tied to projects positioning themselves as decentralized alternatives to centralized models like Claude. Tokenized versions of Anthropic equity have emerged on secondary trading platforms. These aren’t official company offerings. They’re synthetic representations of private company shares, wrapped in blockchain infrastructure and traded in decentralized finance markets. Tokenized equity on secondary platforms carries counterparty risk, liquidity risk, and regulatory uncertainty that traditional pre-IPO share sales don’t. What to watch: Anthropic’s actual IPO pricing, which will determine whether the $3 trillion scenario is realistic or aspirational. The competitive response from OpenAI, which has its own public offering timeline to consider. **Disclosure:** This article was edited by Editorial Team. For more information on how we create and review content, see our [Editorial Policy](https://cryptobriefing.com/editorial-policy/).