A "comet" is a thematic basket organized around a trigger event — the head is the catalyst (IPO, buildout, policy shift), the tail is the set of stocks expected to be dragged along in its wake.
Anthropic is a private frontier AI lab valued at ~$60B (early 2025 round). No clear IPO date, but secondary-market tender offers and a possible IPO in 2026-27 are the trigger events. Public investors get exposure primarily via AMZN ($8B committed + AWS exclusive cloud) and GOOGL (~$3B). Pull-along stocks: chip suppliers (NVDA, AMD, TSM, MU), colocation (DLR, EQIX), power (CEG, VST), enterprise customers (CRM), and Anthropic-class-of-AI competitors and complements.
ANTHROPIC is pre-IPO. Below: direct equity holders, plus the public-traded funds that give retail investors exposure.
| Holder | Type | Stake % | ~$B |
|---|---|---|---|
|
Dario + Daniela Amodei + founding team Founders + early team retain meaningful control via common + super-voting.
|
founder | 18.00% | $10.80 |
|
Employees (option pool) Vested + unvested option pool.
|
employee pool | 15.00% | $9.00 |
|
Amazon (AWS) $4B initial + $4B follow-on; AWS exclusive cloud + Trainium/Inferentia chips.
|
strategic | 20.00% | $12.00 |
|
Alphabet / Google ~$2B initial + reported follow-ons; GCP cloud customer + investor.
|
strategic | 8.00% | $4.80 |
|
Spark Capital Led 2023 Series C ($450M).
|
vc | 5.00% | $3.00 |
|
Lightspeed Venture Partners Multi-round participant.
|
vc | 4.00% | $2.40 |
| General Catalyst | vc | 3.00% | $1.80 |
|
Menlo Ventures Led 2024 $750M round.
|
vc | 3.00% | $1.80 |
|
Bessemer / Sound Ventures / Wellington / Fidelity Combined later-stage syndicate.
|
vc | 8.00% | $4.80 |
|
Salesforce + Zoom + ServiceNow Strategic enterprise investors with product integrations.
|
strategic | 4.00% | $2.40 |
|
Other VCs + secondary holders Tiger Global, FTX bankruptcy estate dispositions, secondary buyers, etc.
|
vc | 12.00% | $7.20 |
| Vehicle | Ticker | Alloc % |
|---|---|---|
|
Amazon (public proxy) Public buy AMZN to track Anthropic upside via AWS cloud + equity. Diluted by AMZN's other businesses.
|
AMZN | — |
|
Alphabet (public proxy) Public buy GOOGL — Anthropic stake is small share of total Alphabet, but real.
|
GOOGL | — |
|
Salesforce (public proxy) Strategic stake plus Einstein integration narrative.
|
CRM | — |
| Sym | Company | Wake | Beta | Price | Ratio | 1D % | 7D % | YTD % | Rationale |
|---|---|---|---|---|---|---|---|---|---|
| ANTHROPIC | Anthropic PBC | 1 | 1.00 | — | — | — | — | — | Private head — pre-IPO; no quote. |
| Sym | Company | Wake | Beta | Price | Ratio | 1D % | 7D % | YTD % | Rationale |
|---|---|---|---|---|---|---|---|---|---|
| AMZN | Amazon.com | 1 | 0.85 | $258.48 | 1.00× | ▲ 1.88% | ▲ 1.95% | ▲ 14.12% | Largest external investor ($8B total committed); Anthropic AWS-exclusive for training compute. |
| CRM | Salesforce Inc. | 2 | 0.95 | $236.44 | 0.91× | ▼ -0.62% | ▼ -8.86% | ▼ -6.77% | Strategic investor + Einstein/Slack AI customer. |
| GOOGL | Alphabet Inc. | 2 | 0.80 | $354.99 | 1.37× | ▲ 1.56% | ▲ 1.60% | ▲ 12.64% | Second-largest external investor (~$3B); also competes with Gemini. |
| Sym | Company | Wake | Beta | Price | Ratio | 1D % | 7D % | YTD % | Rationale |
|---|---|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corp. | 2 | 1.30 | $227.34 | 0.88× | ▲ 2.28% | ▲ 7.76% | ▲ 20.38% | Primary chip supplier for Anthropic training clusters. |
| AMD | Advanced Micro Devices | 3 | 1.20 | $615.69 | 2.38× | ▲ 9.98% | ▲ 24.78% | ▲ 175.51% | Second-source AI accelerator option. |
| MU | Micron Technology | 3 | 1.25 | $1,043.42 | 4.04× | ▲ 2.72% | ▲ 12.92% | ▲ 230.80% | HBM3E memory for Anthropic chips. |
| TSM | Taiwan Semiconductor (TSMC) | 3 | 1.00 | $444.94 | 1.72× | ▲ 2.36% | ▲ 6.44% | ▲ 39.21% | Foundry choke point. |
| Sym | Company | Wake | Beta | Price | Ratio | 1D % | 7D % | YTD % | Rationale |
|---|---|---|---|---|---|---|---|---|---|
| AVGO | Broadcom Inc. | 3 | 1.05 | $362.73 | 1.40× | ▲ 1.43% | ▲ 5.22% | ▲ 4.35% | Custom AI silicon + networking. |
| DLR | Digital Realty Trust | 3 | 0.90 | $186.45 | 0.72× | ▲ 2.38% | ▲ 4.08% | ▲ 20.27% | Frontier-lab DC capacity provider. |
| EQIX | Equinix Inc. | 3 | 0.90 | $1,057.36 | 4.09× | ▲ 3.53% | ▲ 5.87% | ▲ 38.38% | Interconnect for multi-region lab inference. |
| VRT | Vertiv Holdings | 4 | 1.25 | $250.79 | 0.97× | ▲ 0.56% | ▲ 5.64% | ▲ 42.81% | Liquid cooling for high-density training racks. |
| Sym | Company | Wake | Beta | Price | Ratio | 1D % | 7D % | YTD % | Rationale |
|---|---|---|---|---|---|---|---|---|---|
| CEG | Constellation Energy | 4 | 1.10 | $262.17 | 1.01× | ▲ 2.93% | ▼ -0.91% | ▼ -28.42% | Nuclear baseload — Anthropic-class training is power-hungry. |
| VST | Vistra Corp. | 4 | 1.15 | $140.75 | 0.54× | ▲ 0.06% | ▲ 0.01% | ▼ -14.82% | Texas + nuclear power for hyperscale labs. |
| Sym | Company | Wake | Beta | Price | Ratio | 1D % | 7D % | YTD % | Rationale |
|---|---|---|---|---|---|---|---|---|---|
| MSFT | Microsoft Corp. | 5 | 0.70 | $501.45 | 1.94× | ▲ 1.55% | ▼ -0.78% | ▲ 6.03% | Hedges against OpenAI (Microsoft's lab) — if Anthropic gains share at OpenAI expense, MSFT marginally drags. |
Ratio column: member price ÷ AMZN $258.48 (head price; falls back to closest proxy when head is pre-IPO).
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