Former Google CEO Eric Schmidt says artificial intelligence is “not a bubble.” He points to Anthropic's explosive revenue growth as evidence that customers are paying for technology they find useful, and draws a comparison with the revenue growth pace during his time as Google CEO.
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artificial intelligenceAnthropicEric SchmidtAI investment
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• NeutralAlphabet Inc. (Class A)
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.3T |
| Close on 10/21/2026 | 334.67 |
| Change that session | -1.65% |
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- Ex-Google CEO Eric Schmidt worked 60-hour weeks: ‘I used to tell people my job is to sit in meetings 12 hours a day’—he says AI will kill that burden
Former Google CEO Eric Schmidt said much of his job involved sitting in meetings 12 hours a day, five days a week, plus weekends, stretching his workweek to roughly 63 hours. The 71-year-old now believes AI platforms can eliminate much of this 'coordination tax.' He cited an unnamed friend who laid off 20% of staff, including 'glue people' who planned and moved information across the business, and estimated that a 10,000-person company may have a couple of thousand people it doesn't need. Schmidt, with an estimated net worth of $66 billion, reportedly owns about a 1% stake in Anthropic, which could be worth $20 billion if the AI company goes public at its $2 trillion target. He urged workers, especially Gen Z, to adapt to AI, noting that companies will still need great inventors, salespeople and leaders.
- Ex-Google CEO got the job after a Burning Man trip with Larry Page. Now an ex’s intro could make him $20B on Anthropic
Eric Schmidt was vetted by Sergey Brin and Larry Page and hired as Google's CEO after an unconventional interview process, with Brin citing Schmidt as the only CEO finalist who had gone to Burning Man. In 2011, Schmidt began dating Camilla Clark for three years; she later married Anthropic CEO Dario Amodei. In 2018, that connection led Schmidt to meet with her and her then-partner to discuss Anthropic, and he invested early and now owns about 1% of the company. According to the Financial Times, Anthropic could be valued at as much as $2 trillion in an IPO, which could make Schmidt's stake worth $20 billion, more than half his current net worth per Forbes, compared with the roughly $461 million valuation when he invested.
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According to Bloomberg, former Google CEO Eric Schmidt holds about 1% of Anthropic through a Series A investment of 'tens of millions of dollars', though it is unclear whether he has sold any stake. Anthropic was valued at $461 million when Schmidt invested in 2021, per PitchBook, while investors recently indicated a fair valuation of about $1.8 trillion to $2 trillion. At $2 trillion, the stake would lift his net worth by about one-third to nearly $80 billion. Alphabet owns about 14% of Anthropic and Amazon has invested an estimated $8 billion, while early investor Brad Gerstner expects an IPO in 'weeks, not months'. Per Reuters, Anthropic told investors that third-quarter revenue rose 45% from the previous quarter to $16.8 billion and that it was profitable on an adjusted basis.
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According to Bloomberg, former Google CEO Eric Schmidt owns about 1% of Anthropic after investing tens of millions of dollars in its 2021 Series A round, when PitchBook data valued the startup at $461 million. That stake is roughly half the 2% held by co-founder and CEO Dario Amodei, and Anthropic is widely expected to go public before the end of the year, with top market estimates of up to $2 trillion. At that valuation, Schmidt's stake could add as much as $20 billion to his net worth, which Bloomberg puts at $57.5 billion. The article notes Schmidt has been an active tech investor since stepping down as Google CEO in 2011, with bets including Mistral, General Intuition and Reflection AI. Neither Schmidt nor Anthropic immediately responded to requests for comment.
- Eric Schmidt Wrote a Check to Anthropic Before the AI Boom: Here’s How Big the Payoff Could Get
Former Google CEO Eric Schmidt reportedly holds about 1% of Anthropic PBC through an early investment, which could make him one of the largest individual winners from the AI company’s upcoming public listing. According to Bloomberg, he put “tens of millions of dollars” into Anthropic’s Series A round in 2021, when the company was valued at $461 million, and it is unclear whether he has sold any of his stake. Investors indicated a fair valuation of $1.8 trillion to $2 trillion; at $2 trillion, Schmidt’s net worth could rise by about one-third to nearly $80 billion. Alphabet owns about 14% of Anthropic, and the company told investors that third-quarter revenue rose 45% from the previous quarter to $16.8 billion and that it was profitable on an adjusted basis. Anthropic has not formally announced an IPO date, though an early investor expects a listing in “weeks, not months.”
- Eric Schmidt’s 1% Anthropic stake sets up massive windfall ahead of IPO -Bloomberg
Former Google CEO Eric Schmidt holds about 1% of Anthropic after investing tens of millions of dollars in its Series A round, and is poised to reap one of the largest individual windfalls from the AI startup's upcoming IPO. According to PitchBook data cited by Bloomberg, Anthropic was valued at $461 million when Schmidt invested in 2021, while prospective public valuations of $1.8 trillion to $2 trillion would be more than 4,300 times that Series A baseline. At the upper end of that range, his stake could lift his net worth by roughly one-third to nearly $80 billion. Anthropic is expected to begin formal marketing for its IPO as early as the week of Nov. 9, and aims to match or surpass SpaceX's record $1.77 trillion IPO completed in June.
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