--- title: "Anthropic’s IPO Filing Reveals Over $500 Billion AI Compute Spending Across AMZN, GOOGL, MSFT, AVGO and SPCX: Top Analyst Says It Has ‘Barely Started’" type: "News" locale: "en" url: "https://longbridge.com/en/news/303189704.md" description: "Anthropic's IPO filing reveals approximately $500 billion in compute commitments across major tech firms including Broadcom, Google, Amazon, Microsoft, AMD, and SpaceX. Analyst Nicholas Mugalli highlights that despite a $65 billion annualized revenue run rate, Anthropic has captured only 0.2% of the estimated $30 trillion addressable market. With strong customer growth and substantial cash reserves, Mugalli asserts the company is one of history's fastest growers and has 'barely started' tapping its potential." datetime: "2026-10-27T07:48:01.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/303189704.md) - [en](https://longbridge.com/en/news/303189704.md) - [zh-HK](https://longbridge.com/zh-HK/news/303189704.md) generator: "portal-rs" --- # Anthropic’s IPO Filing Reveals Over $500 Billion AI Compute Spending Across AMZN, GOOGL, MSFT, AVGO and SPCX: Top Analyst Says It Has ‘Barely Started’ Anthropic PBC’s IPO filing outlines hundreds of billions of dollars in compute commitments across **Broadcom Inc.** (NASDAQ:AVGO), **Alphabet Inc.** (NASDAQ:GOOGL), **Amazon.com Inc.** (NASDAQ:AMZN), **Microsoft Corp.** (NASDAQ:MSFT), **Advanced Micro Devices Inc.** (NASDAQ:AMD) and **Space Exploration Technologies Corp.** (NASDAQ:SPCX), while World Trade Securities’ Nicholas Mugalli says the AI company has "barely started" tapping its potential market. ## **Mugalli Points To Roughly $500 Billion Compute Buildout** "Anthropic’s S-1 shows where the AI money goes," Mugalli wrote on **X**, listing commitments of $161.2 billion to Broadcom, $114.5 billion to Google, $110 billion to Amazon, up to $84.5 billion to SpaceX and $44.9 billion to Microsoft, alongside 2 gigawatts of AMD MI450 GPUs with an undisclosed dollar value. "That’s ~$500bn of compute locked in across every major chip maker," Mugalli said. Anthropic said in its S-1 that its multi-chip compute architecture spans AWS Trainium, Google TPUs, **Nvidia Corp.** (NASDAQ:NVDA) GPUs, and AMD GPUs and that it plans to continue investing at scale in compute and infrastructure. > Anthropic already has $132bn of cash. > > Add a ~$140bn IPO, $77bn of committed funding from Google, Amazon and Broadcom and cash from a business growing 14x a year and it could be sitting on roughly $400bn by the end of 2027. > > That's more firepower than almost any company on… https://t.co/NM8zQYw6kQ pic.twitter.com/RgYThxppJP > > — Nicholas Mugalli (@RealNickMugalli) October 26, 2026 **Read Also: ‘What’s Wild’ About Anthropic’s Filing? Shay Boloor Points to $2.08 in Revenue for Every Compute Dollar** ## **‘It Has Barely Started’** Mugalli tied the spending to Anthropic’s growth and addressable market, saying its roughly $65 billion revenue run rate represents about 0.2% of a $30 trillion market. "That’s the most important number in the IPO," Mugalli wrote. "This is already one of the fastest-growing companies in history, and it has barely started." > If you think Anthropic’s revenue of 65B ARR is crazy. Set that against a $30 trillion market and it has captured about 0.2%. > > That's the most important number in the IPO. This is already one of the fastest growing companies in history and it has barely started. If AI ends up… https://t.co/EzRt5SJbdQ pic.twitter.com/czQexYx8TP > > — Nicholas Mugalli (@RealNickMugalli) October 26, 2026 Anthropic’s filing says knowledge workers generated more than $40 trillion in economic value globally in 2025, while the company expects frontier AI to expand that opportunity. Mugalli also highlighted Anthropic’s customer expansion, saying customers spending more than $100,000 annually increased from about 950 a year ago to more than 11,900. The S-1 reports more than 11,900 customers generating at least $100,000 on a trailing-12-month basis, more than 1,900 generating at least $1 million and roughly 250 generating at least $10 million. > A year ago, about 950 customers spent more than $100K a year with Anthropic. Today it's over 11,900. Roughly 1,900 spend more than $1mn a year and about 250 spend more than $10mn. > > This is what separates Anthropic from the AI hype imo. It isn't a consumer app riding a trend even… https://t.co/cruC28TJbe pic.twitter.com/epxwVHx97q > > — Nicholas Mugalli (@RealNickMugalli) October 26, 2026 **Read Also: SKHY, BABA in the Crosshairs: Goldman Slashes KOSPI Ahead of Earnings, Morgan Stanley Warns on China AI** ***Disclaimer:*** *This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.* *Photo courtesy: Shutterstock* ### Related Stocks - [AMD.US](https://longbridge.com/en/quote/AMD.US.md) - [AMZN.US](https://longbridge.com/en/quote/AMZN.US.md) - [GOOG.US](https://longbridge.com/en/quote/GOOG.US.md) - [GOOGL.US](https://longbridge.com/en/quote/GOOGL.US.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [SPCX.US](https://longbridge.com/en/quote/SPCX.US.md) - [AMAA.US](https://longbridge.com/en/quote/AMAA.US.md) - [AMDC.US](https://longbridge.com/en/quote/AMDC.US.md) - [AMDD.US](https://longbridge.com/en/quote/AMDD.US.md) - 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