Amazon's investment in artificial intelligence developer Anthropic has turned out to be one of the most lucrative in the cloud giant's history. An initial investment of $8 billion has now turned into a stake worth about $74 billion.
Amazon's investment in artificial intelligence developer Anthropic has turned out to be one of the most lucrative in the cloud giant's history. An initial investment of $8 billion has now turned into a stake worth about $74 billion.
As Business Insider reports , citing the company's quarterly report, as of March 31, Amazon owned Anthropic's convertible bonds worth about $42.2 billion and non-voting preferred shares worth $32 billion. Given the AI startup's rapid growth in valuation, the value of these assets could be even higher.
Amazon’s stake increase, which took place from late 2023 to 2025, is gaining more attention as Anthropic prepares for an initial public offering (IPO). The startup announced a confidential filing for the IPO on Monday.
Anthropic’s valuation has seen dizzying growth: from $61.5 billion last year, it jumped to $183 billion, then to $380 billion earlier this year, and recently reached $965 billion . Thus, Anthropic overtook OpenAI to become the most valuable AI startup in the world.
This success is already reflected in Amazon’s financial results. In the first quarter of 2026 alone, the company recorded $12.3 billion in “other income” from the revaluation of Anthropic assets. Amazon also previously reported gains of $3.3 billion and $4.5 billion from bond conversions in 2025 and early 2026.
The companies’ partnership goes beyond investment. Amazon Web Services (AWS) cloud division offers Anthropic’s models through its Bedrock service, giving the startup access to large enterprise customers. Anthropic, in turn, is a major AWS customer, purchasing Trainium AI chips. This allows Amazon to earn both from the growth in the value of its share and from the startup’s costs for cloud infrastructure.
Amazon invested an additional $5 billion in Anthropic in April and has said it is willing to invest up to $20 billion in the future. Last week, the company already realized $5 billion of that commitment in a new funding round for the startup.
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