Anthropic has more cash than Nvidia and Apple combined: What explains its $132 billion pile?
Anthropic, the nearly six-year-old artificial intelligence (AI) lab, had $131.7 billion in cash and short-term investments as of 30 June, surpassing the combined holdings of Nvidia and Apple, according to data compiled by CNBC and S&P Capital IQ.
In a filing with the US Securities and Exchange Commission (SEC) on Monday, Anthropic disclosed $112.4 billion in cash and another $19.3 billion in short-term investments. Its total cash pile exceeds that of every non-bank US company except Berkshire Hathaway and Alphabet.
As of midyear, Anthropic had more cash than Amazon, SpaceX, Meta and Microsoft. Its reserves underscore the fundraising prowess that has helped the company accumulate $141 billion in private financing since its founding six years ago.
Anthropic’s proposed initial public offering (IPO) could significantly increase its financial reserves. Reports suggest the offering could raise more than $100 billion, potentially taking its cash pile to over $230 billion.
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However, the company has not disclosed the specific size of its offering. Its filing also said existing investors would sell shares in the IPO, meaning Anthropic itself would not receive the entire amount raised.
Details are expected to be disclosed in about two weeks. Never before has a company gone public with anywhere near this amount of cash, according to the report.
Despite its substantial reserves, Anthropic faces significant future commitments for computing power that have yet to be fully reflected in its expenses.
The company’s computing and infrastructure expenses totalled $8.95 billion in the first half of the year. However, Anthropic said it typically purchases computing power 12 to 18 months in advance and recognises expenses only when that capacity becomes available.
This means its first-half expenses do not capture the full scale of its future obligations.
As of 30 June, Anthropic disclosed $321.4 billion in estimated future undiscounted lease obligations and $265.6 billion in expected future fixed or minimum-guaranteed commitments, taking the combined total to more than $587 billion.
These obligations will commence within the next few years, with terms ranging from one year to 20 years.
Anthropic’s financial requirements have continued to grow. After 30 June, the company entered into new and amended agreements carrying minimum future payment obligations of about $245 billion. It has not yet disclosed an updated aggregate figure for its commitments.
Given the scale of these obligations, Anthropic will need to continue accumulating cash through fundraising or generating profits to fulfil its commitments.
(With inputs from CNBC)
Sanchari Ghosh is an Assistant Editor at Mint with over 12 years of experience in journalism, specialising in personal finance, DLT & DeFi, geopolitics and foreign policy, with a particular emphasis on how these areas intersect. <br> She writes extensively about how money works in everyday life—helping readers navigate personal finance decisions. <br> As AI reshapes investing behaviour, capital is increasingly flowing into decentralized ecosystems, redefining how assets are managed, traded, and valued. She focuses on explaining how money flows within frameworks like Distributed Ledger Technology (DLT), DeFi protocols, and crypto markets—while also exploring what the future of money could look like in a trustless, programmable financial world. <br> She also focuses on immigration-related issues, simplifying complex topics around visas, passports, overseas financial planning, and the many practical challenges Indians face while moving or living abroad. <br> Alongside personal finance, Sanchari has a strong understanding of international politics, contemporary and historical conflicts, and global state decisions. She closely tracks how geopolitical developments influence economies, markets, and individual financial choices, bringing together finance and global affairs in her reporting. <br> She began her career as a desk editor, which gave her a strong foundation in news writing. Over time, her interest naturally shifted toward personal finance. Before joining Mint in 2020, she worked DNA, The Times of India, Outlook Money, BloombergQuint, and ETMoney. At Mint, she got an opportunity to expand her coverage to include immigration and geopolitical developments while continuing to closely follow personal finance trends and market movements.As a journalist, she is committed to accuracy, intellectual rigour, and fairness. <br> She is an English Major and her work took her across cities including Delhi, Mumbai, and Pune. Living independently from an early age gave her firsthand experience in managing life and money on her own. This practical exposure sparked her strong interest in personal finance. <br> Outside the newsroom, Sanchari is a sports enthusiast who regularly plays lawn tennis and squash. In her younger years, she was also a national-level badminton player.
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