Anthropic, the AI safety company backed by Amazon and Google, is projecting revenue to more than double to $10.9 billion in the second quarter, putting it on track for its first operating profit — ahead of rivals OpenAI and xAI. To fuel that growth, the company has locked in a major infrastructure deal with SpaceX worth roughly $45 billion, including $1.25 billion in monthly compute payments. Anthropic also quietly released a restricted AI model called Mythos, made available only to select partners due to safety considerations.
Anthropic's trajectory directly pressures the AI valuations embedded in Amazon (AMZN) and Google (GOOGL), both major investors — a profitable Anthropic would be a significant mark-up event for both balance sheets. The SpaceX compute deal also signals that AI infrastructure spending remains ferocious, which is a sustained tailwind for data center plays like NVDA and AMZN Web Services. Investors in broad tech ETFs like QQQ should note this as further evidence that AI monetization is graduating from hype to hard revenue.
Anthropic is privately held so there's no earnings date, but watch for: Amazon Q2 earnings (expected late July 2025) for any Anthropic valuation update; Google Q2 earnings (expected late July 2025) for AI investment commentary; any Anthropic funding round announcement which would set a new public valuation marker.
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