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 | $241.55 | 1.00× | ▼ -0.85% | ▼ -0.46% | ▲ 6.64% | Largest external investor ($8B total committed); Anthropic AWS-exclusive for training compute. |
| CRM | Salesforce Inc. | 2 | 0.95 | $163.65 | 0.68× | ▼ -1.76% | ▼ -1.48% | ▼ -35.47% | Strategic investor + Einstein/Slack AI customer. |
| GOOGL | Alphabet Inc. | 2 | 0.80 | $353.14 | 1.46× | ▼ -2.43% | ▼ -1.88% | ▲ 12.05% | 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 | $201.41 | 0.83× | ▼ -1.33% | ▲ 3.38% | ▲ 6.65% | Primary chip supplier for Anthropic training clusters. |
| AMD | Advanced Micro Devices | 3 | 1.20 | $552.57 | 2.29× | ▲ 6.80% | ▲ 6.71% | ▲ 147.27% | Second-source AI accelerator option. |
| MU | Micron Technology | 3 | 1.25 | $1,019.85 | 4.22× | ▲ 7.49% | ▲ 4.54% | ▲ 223.33% | HBM3E memory for Anthropic chips. |
| TSM | Taiwan Semiconductor (TSMC) | 3 | 1.00 | $444.45 | 1.84× | ▲ 1.71% | ▲ 2.37% | ▲ 39.06% | Foundry choke point. |
| Sym | Company | Wake | Beta | Price | Ratio | 1D % | 7D % | YTD % | Rationale |
|---|---|---|---|---|---|---|---|---|---|
| AVGO | Broadcom Inc. | 3 | 1.05 | $401.41 | 1.66× | ▲ 3.27% | ▲ 11.36% | ▲ 15.47% | Custom AI silicon + networking. |
| DLR | Digital Realty Trust | 3 | 0.90 | $179.82 | 0.74× | ▲ 2.00% | ▲ 3.76% | ▲ 15.99% | Frontier-lab DC capacity provider. |
| EQIX | Equinix Inc. | 3 | 0.90 | $1,037.40 | 4.29× | ▲ 2.11% | ▲ 3.53% | ▲ 35.77% | Interconnect for multi-region lab inference. |
| VRT | Vertiv Holdings | 4 | 1.25 | $329.30 | 1.36× | ▲ 3.62% | ▲ 9.57% | ▲ 87.52% | Liquid cooling for high-density training racks. |
| Sym | Company | Wake | Beta | Price | Ratio | 1D % | 7D % | YTD % | Rationale |
|---|---|---|---|---|---|---|---|---|---|
| CEG | Constellation Energy | 4 | 1.10 | $247.93 | 1.03× | ▲ 1.39% | ▲ 3.63% | ▼ -32.31% | Nuclear baseload — Anthropic-class training is power-hungry. |
| VST | Vistra Corp. | 4 | 1.15 | $158.53 | 0.66× | ▲ 2.40% | ▲ 4.95% | ▼ -4.06% | Texas + nuclear power for hyperscale labs. |
| Sym | Company | Wake | Beta | Price | Ratio | 1D % | 7D % | YTD % | Rationale |
|---|---|---|---|---|---|---|---|---|---|
| MSFT | Microsoft Corp. | 5 | 0.70 | $380.18 | 1.57× | ▼ -0.82% | ▼ -2.64% | ▼ -19.61% | Hedges against OpenAI (Microsoft's lab) — if Anthropic gains share at OpenAI expense, MSFT marginally drags. |
Ratio column: member price ÷ AMZN $241.55 (head price; falls back to closest proxy when head is pre-IPO).
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