Anthropic's $200B Founder Split Meets $800B Compute Bill

Anthropic's seven founders could control up to $200 billion in stock as its filing warns of $800 billion in compute bills. Each co-founder holds between 231 million and 244 million shares, about 1.4-1.5% of the company. That translates to $21-30 billion per person if Anthropic prices its IPO between $1.5 trillion and $2 trillion. All seven receive 2,185,400 stock options now and 639,500 RSUs that vest after the offering. The Monday filing also lists compute contracts totalling $782-$807 billion, including $44.9 billion with Microsoft and $114.5 billion with Google. Other deals commit $110 billion to Amazon, $161.2 billion to Broadcom, $120.5 billion to SpaceXAI, and over $20 billion to AMD. If revenue growth stalls, the company could default, forcing a $42 billion convertible note issue to Broadcom as a backstop. As Anthropic's chief, Dario Amodei, warned, "we can't afford not to spend" on the compute needed to stay competitive.