Anthropic Cloud Marketplaces Accounted for About 48% of First-Half Revenue

Anthropic’s cloud marketplace sales represented approximately 48% of its revenue in the first half of 2026, making those platforms a major route to market for the Claude developer.

Anthropic disclosed the figures in a public Form S-1 filed Monday, Oct. 26. Marketplace sales represented approximately 11% of revenue in 2023, 32% in 2024 and 47% in 2025. The figures combine revenue from cloud service provider marketplaces and do not break out each provider’s individual share.

Customers can access Claude through Amazon Web Services (AWS) Bedrock, Google Cloud Platform’s Vertex AI and Microsoft Foundry, which is hosted on Azure. Anthropic generally maintains direct contractual relationships with end customers. It pays fees to the cloud service providers.

The providers bill end customers, collect payments for Anthropic and remit the funds after applicable platform and other fees. This places cloud companies in both the customer access and payment process, while Anthropic generally maintains its own customer agreements.

Receivables from sales through cloud service provider marketplaces represented 58% of Anthropic’s total net accounts receivable as of June 30, 2026. The share was 60% as of Dec. 31, 2025, and 42% as of Dec. 31, 2024. Receivables measure amounts due to the company, so these percentages track unpaid balances tied to marketplace sales rather than revenue earned during each period.

Anthropic describes its cloud partners as companies “who simultaneously serve as our investors, customers, distribution partners, and competitors.” It warns that a change to or end of a significant distribution relationship could disrupt customer access or reduce usage, and could increase customer acquisition, onboarding and migration costs. The marketplace figures add a distribution measure to Anthropic’s S-1 disclosures.