Inside Anthropic's multi-billion-dollar loop: how circular financing powers the AI boom

DIGITIMESSeptember 30, 2026en

As Anthropic prepares to ask public markets to back its expansion, confidential IPO filing details seen by Reuters reveal how heavily the AI developer relies on a small group of tech giants. At the core of its business is an increasingly circular financial network in which companies like Amazon and Alphabet's Google act simultaneously as equity investors, cloud suppliers, distribution channels, and direct AI competitors.

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