Israeli AI startup Decart has secured a $7 billion position tied to Anthropic, and according to reporting from Calcalist Tech, that figure may look modest once Anthropic eventually goes public. The deal positions Decart among a relatively small circle of firms with meaningful early exposure to one of the most closely watched AI companies in the world.
Decart is best known for its work on real-time world simulation, including the viral Oasis demo that generated playable Minecraft environments using a neural network. Its financial relationship with Anthropic represents a significant side bet on the broader AI infrastructure race, one that has attracted considerable attention from the Israeli tech investment community.
Why the IPO Timing Matters
Anthropic's valuation has climbed rapidly over the past year. The company's growth trajectory has been steep enough that pre-IPO positions are already carrying substantial paper gains for early backers. Anthropic recently hit a $965 billion valuation, surpassing OpenAI as the most valuable AI firm by some measures, a milestone that has sharpened focus on what a public listing could yield for stakeholders at every level.
Key Facts
- Decart's stake in Anthropic is valued at approximately $7 billion
- Analysts cited by Calcalist Tech believe an IPO could increase that figure
- Decart is an Israeli AI startup focused on real-time generative world models
- Anthropic has not announced a formal IPO date or filing timeline
- The deal adds to a long list of major strategic investments in Anthropic across 2024 and 2025
The scale of investment flowing into Anthropic from multiple directions has been striking. Beyond equity stakes, the company has locked in a series of large compute agreements that signal confidence in sustained demand for its Claude models. Anthropic sealed a $10 billion AI compute deal with an Nvidia-backed startup, and separately AMD committed up to $5 billion in a chip partnership. These agreements reflect how central Anthropic has become to the supply chain ambitions of major hardware players.
The Decart position illustrates how secondary and strategic deals around top AI companies can generate returns that rival direct venture investments, particularly when a public offering approaches.Calcalist Tech analysis
Broader Context for the Deal
Decart is not alone in placing large bets on Anthropic's continued rise. The past several months have seen a wave of capital commitments tied to the company's infrastructure and equity. Anthropic's revenue surpassed a $30 billion run rate earlier this year, a data point that has made pre-IPO positions increasingly attractive to institutional and strategic investors alike.
For Decart, the timing of any Anthropic listing will be critical. Public markets have shown appetite for AI-adjacent companies, though pricing a firm of Anthropic's scale and private valuation will require careful calibration. If the IPO proceeds at or above current private market valuations, Decart's $7 billion exposure could yield returns that dwarf its core business revenues in the near term.
What makes this story worth watching is less the headline number and more what it signals about how AI value is being distributed across the ecosystem. Startups, chipmakers, cloud providers, and simulation companies are all finding ways to attach themselves financially to the handful of frontier model developers that have pulled ahead of the field. Decart's position is an unusually direct example of that dynamic playing out at scale.
No IPO date for Anthropic has been announced publicly. Until that changes, the $7 billion figure remains a paper valuation, albeit one with credible upside according to the analysts Calcalist spoke with.
