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position. In a talent-constrained industry, acquisitions can be an efficient path to adding exceptional 
technical  talent  that  can  immediately  contribute  to  advancing  Claude’s  capabilities.  We  may  also 
pursue  transactions  that  strengthen  our  infrastructure  position  or  deepen  our  capabilities  in 
strategically  important  domains.  For  example,  in  April  2026,  we  completed  the  acquisition  of 
Coefficient Bio, Inc., a computational biology company, to accelerate our research in the life sciences. 
We  may  also  pursue  partnerships,  such  as  our  recently  launched  AI  services  company,  Ode  with 
Anthropic, in which we have partnered with leading private equity firms to bring Claude’s capabilities 
to  mid-sized  companies  across  sectors,  building  solutions  on  the  Claude  Platform  and  supporting 
customers  over  the  long  term.  Ecosystem  partnerships  also  expand  our  reach,  allowing  customers to 
adopt Claude through SIs, consultants, and data platforms. 

Our Models, Platform, and Applications

We are building at every layer of frontier AI. Our Claude model family provides the underlying intelligence. Our 
Claude  Platform  makes  that  intelligence  available  as  a  set  of  composable  primitives  that  developers  and 
enterprises can assemble into their own solutions. Our applications draw on those same primitives, packaged 
into  products  customers  can  deploy  directly.  Because  we  build  these  layers  cohesively,  improvements  at  any 
layer compound across the stack and benefit our customers. We believe this integrated approach has made us a 
partner of choice for customers transforming their business through AI. Customers can adopt, govern, and scale 
our technology immediately, and each new primitive and application we release expands the range of workflows 
they can run on Claude. 

Our  platform  unifies  frontier  intelligence  with  the  harnesses,  connectors,  governance,  and  orchestration  that 
are  all  required  to  put  that  intelligence  into  production.  As  customers  build  on  the  primitives  we  provide, 
Claude  becomes  an  integral  part  of  their  data,  workflows,  and  institutional  knowledge,  and  the  relationship 
deepens with each integration. We open our platform to all builders because we believe enabling a wide range of 
companies to build on Claude generates more innovation and value than we could create on our own.

We  build  first-party  applications  to  demonstrate  where  frontier  models  are  heading  and  to  deliver  fully 
integrated  solutions  where  we  have  a  distinct  viewpoint  on  the  workflow.  Applications  like  Claude  Code  and 
Claude  Cowork  are  early  examples  of  what  the  future  of  agentic  work  might  look  like;  they  put  our  latest  AI 
capabilities directly into the hands of users while accelerating the market’s understanding of AI’s possibilities. 
Because  our  research  and  product  teams  work  side  by  side,  new  model  capabilities  inform  our  products  and 
customer feedback on those products informs our research priorities. This allows us to build products for where 
we believe model capabilities are going, not just where they are today. For example, we designed Claude Code 
around the agentic coding capabilities we expected our models to achieve, which positioned it to scale rapidly as 
those capabilities arrived. We have taken a similar approach with Claude Cowork.

We also design our products to close the gap between what Claude can do and how fully customers use it, which 
we  believe  is  important  to  helping  customers  realize  the  value  of  frontier  intelligence.  Rather  than  requiring 
customers to learn how the underlying models work, we build products that allow them to interact with Claude 
as  they  would  with  a  colleague,  simply  and  naturally,  so  they  can  adopt  new  capabilities  as  they  become 
available.  We  believe  that  as  we  extend  the  frontier  and  broaden  our  application  surfaces,  customers  realize 
value faster, embed Claude more deeply into their operations, and increasingly rely on us as a primary provider 
for their AI transformation.

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