Why is nobody talking about this?

With Anthropic preparing to go public, one of the biggest questions on Wall Street is what the company will actually be worth.

• $1.5 trillion?

• $2 trillion?

• Maybe even more?

But nobody seems to be asking:

Who else benefits from Anthropic’s massive multi-trillion-dollar valuation?

Because some of the biggest publicly traded companies in the world already own huge stakes in Anthropic.

And depending on where Anthropic's IPO is ultimately valued, those stakes could be worth hundreds of billions of dollars.

Yet their stock prices certainly don't reflect it.

The Hidden Value Inside Big Tech

Amazon (AMZN) owns an estimated 15-20% stake in Anthropic.

Alphabet (GOOG) owns another estimated 15%.

Even Zoom Video Communications (ZM) owns a stake, estimated at 0.5-1%.

And Anthropic isn't the only AI company with heavyweight backers.

OpenAI would likely fetch a similar valuation and has an equally impressive investor list.

Microsoft (MSFT) owns 27% of OpenAI.

Amazon (AMZN) reportedly owns 5% of this AI lab as well.

Think about that for a second.

If Anthropic and OpenAI eventually become two of the most valuable companies in the world...

Big tech stocks will be some of the biggest winners.

Let's Do Some Simple Math

Right now, expectations point to an Anthropic IPO valuation of $2 trillion.

Let's also assume OpenAI would command a similar valuation, given its comparable scale, growth, and strategic importance.

Here's what these ownership stakes would be worth.

Amazon

Estimated Anthropic stake: 15–20%

Estimated OpenAI stake: 5%

Potential value: $400–500 billion

Amazon’s current market capitalization: $2.6 trillion

In other words, Anthropic and OpenAI alone could represent 15–19% of Amazon's entire market value.

Alphabet

Estimated Anthropic stake: 15%

Potential value: $300 billion

Alphabet’s current market capitalization: $3.4 trillion

That's 9% of Alphabet's market value.

Microsoft

Estimated OpenAI stake: 27%

Potential value: $540 billion

Microsoft’s current market capitalization: $3.9 trillion

That's around 14% of Microsoft's current market value.

Zoom

Estimated Anthropic stake: 0.5–1%

Potential value: $10–20 billion

Zoom’s current market capitalization: $28 billion

That would equal 35–71% of Zoom's entire market value.

Now, before we get carried away...

Owning 15% of a company valued at $2 trillion doesn't mean you can simply cash out for $300 billion tomorrow.

These are private investments, the ownership estimates aren't exact, and their eventual IPO valuations could be much higher or lower.

Still, the math gives us an idea of just how valuable these investments could become.

So Why Doesn't the Market Care?

I think the explanation is surprisingly simple.

Anthropic is one asset.

Amazon is comprised of dozens of assets – AWS, e-commerce, advertising, Prime, logistics, robotics, and Zoox.

Anthropic and OpenAI become two line items buried inside this $2.6 trillion conglomerate.

The same thing happens with Alphabet.

Alphabet owns Search, YouTube, Android, Google Cloud, Gemini, and Waymo.

Then somewhere inside that empire sits a significant ownership stake in one of the hottest AI companies on the planet.

It simply gets overshadowed.

Microsoft has the same dynamic.

Investors focus on Azure, Windows, Office, Xbox, LinkedIn, and GitHub.

OpenAI becomes just another asset inside an already enormous business.

One More Reason to Own Great Businesses

I already like the stocks of Amazon, Microsoft, and Alphabet.

I didn't need Anthropic or OpenAI to justify owning any of them.

But the fact they also own meaningful stakes in two of the world's most valuable AI companies makes them even more attractive.

Think of it this way.

If you're buying Amazon, you're already getting AWS, e-commerce, advertising, Prime, robotics, logistics, and more.

The Anthropic and OpenAI stakes are a bonus.

The same goes for Alphabet.

You already own Search, YouTube, Cloud, Android, and Waymo.

Then you realize the company also owns a significant piece of Anthropic.

Microsoft?

You're buying one of the greatest software businesses ever created and quietly getting a massive stake in OpenAI along with it.

The market isn't giving these investments nearly enough credit.

Instead, investors seem to treat them like interesting footnotes buried in annual reports.

I think that's a mistake.

If Anthropic and OpenAI ultimately become multi-trillion-dollar public companies, these ownership stakes won't remain hidden forever.

Eventually, they'll be too valuable to ignore.