Former Google CEO Eric Schmidt says AI “is not a bubble,” citing Anthropic's rapid revenue growth as evidence customers are paying for useful technology, and claims its growth ran more than twice as fast as Google's record during his tenure. Anthropic told prospective investors that third-quarter revenue jumped 45% to $16.8 billion from $11.6 billion in the previous quarter and $4.7 billion in the first, and that it was profitable on an adjusted basis. A draft IPO prospectus reviewed by Reuters showed an $80.7 billion net loss in the first half of 2026, including a $72 billion noncash charge tied to convertible financing, and nearly $9 billion of computing and infrastructure spending. Schmidt warned Western AI firms could lose the global customer contest, as free Chinese models, which he estimates are about six months behind, may dominate poorer countries. On Polymarket, traders put 9% odds on an AI-industry downturn by Dec. 31, with nearly $2.5 million traded.
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Related tickers and likely impact
GOOGL
• NeutralAlphabet Inc. (Class A)
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/23/2026 | 320.21 |
| Change that session | -1.24% |
NVDA
• NeutralNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/23/2026 | 210.96 |
| Change that session | -0.59% |
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- 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.
- Google's Former CEO Quietly Owns 1% of Anthropic
According to unnamed sources, former Google CEO Eric Schmidt owns about 1% of Anthropic, stemming from an investment of tens of millions of dollars in its 2021 Series A, when the company was valued at $461 million. At Anthropic's latest valuation of $965 billion, the stake could be worth about $10 billion, though neither Schmidt nor Anthropic has confirmed the figure. The IPO is discussed at a range of $1.8 trillion to $2 trillion; at the top of that range, the stake could reach $20 billion, lifting Schmidt's net worth from $57.5 billion to nearly $80 billion. Alphabet shares rose 1.05% to close at $344.18, and investors treated the report as a minor development. All figures remain estimates, as nothing has been signed or filed and the IPO timeline is only a plan.
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