Eric Schmidt Wrote a Check to Anthropic Before the AI Boom: Here’s How Big the Payoff Could Get

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Former Google CEO Eric Schmidt reportedly holds about 1% of Anthropic PBC through an early investment, potentially giving him one of the largest individual windfalls from the artificial intelligence company's upcoming public market debut. Early Series A Bet Schmidt invested "tens of millions of dollars" in Anthropic's Series A round, according to a Bloomberg report published Monday, citing people familiar with the matter. However, it is unclear whether he has sold any stake of his early investment. Anthropic and Schmidt did not immediately respond to Benzinga's request for comment. Don't Miss: A single bad hire can set a startup back years. Here are the 5 hires founders most often misjudge — and why Still Learning the Market? These 50 Must-Know Terms Can Help You Catch Up Fast Schmidt led Google as CEO from 2001 to 2011, overseeing its 2004 public listing, then served as executive chairman. He kept the role at Alphabet Inc. when it was formed in 2015, before moving into a technology advisory role in 2017. How Much Schmidt Stands to Gain Anthropic was valued at $461 million when Schmidt made his investment in 2021, according to data company PitchBook. Last week, investors indicated the company's fair valuation was around $1.8 trillion to $2 trillion, Bloomberg said. At the high end of the range, the Claude maker could be valued at more than 4,300 times its Series A funding. At a $2 trillion valuation, the stake would lift Schmidt's net worth by about one-third to nearly $80 billion, according to Bloomberg's wealth index. With Anthropic's May valuation of $965 billion, Schmidt could add $10 billion to his current net worth of $57.5 billion, the report added. See Also: Avoid the #1 Investing Mistake: How Your 'Safe' Holdings Could Be Costing You Big Time Other Backers Alphabet owns about 14% of Anthropic, a stake that would be worth over $280 billion at a $2 trillion valuation, while Amazon.com, Inc. has invested an estimated $8 billion. Nvidia Corp. and Microsoft Corp. also made later investments in the Claude maker. IPO Could Come in Weeks Anthropic has not formally announced an IPO date. Altimeter Capital's Brad Gerstner, an early investor, told CNBC last week that he expects the company to go public in "weeks, not months." 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, Reuters reported. Story Continues Photo Courtesy: Frederic Legrand – COMEO on Shutterstock.com Read Next: Skip the Regrets: The Essential Retirement Tips Experts Wish Everyone Knew Earlier. Think you're saving enough for your kids? 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