Amazon just made one of its most lucrative bets in its history, and it is not through its own business but …
Amazon has turned its $8 billion investment in AI startup Anthropic into one of the most lucrative bests in its history. According to a report by Business Insider, as per a quarterly filing from late April, Amazon’s stake in Anthropic is now worth roughly $74,2 billion on paper, which clearly reflects the meteoric rise in the valuation of the company. Founded in 2021, Anthropic witnessed its valuation climb from $61.5 billion last year to $183 billion and then $380 billion earlier this year. Most recently the company achieved the valuation of $965 billion surpassing rival OpenAI as the world’s most valuable AI startup. Amazon’s holdings in Anthropic include $42.2 billion in convertible notes and $32 billion in nonvoting preferred stock, which together account for the $74.2 billion figure disclosed in the filing.
Gains flowing into Amazon’s earnings
The investment has already boosted Amazon’s financial results. In Q1 2026 alone, the company recorded $12.3 billion in “Other income” from upward adjustments tied to Anthropic. Amazon also booked $3.3 billion and $4.5 billion in gains from note conversions in 2025 and early 2026. The latest valuation marks a sharp increase from the $61 billion stake value disclosed in February.
Amazon’s relationship with Anthropic extends beyond equity. Through AWS Bedrock , Amazon offers Anthropic’s models to corporate customers, while Anthropic itself is a major AWS client, committing to Amazon’s Trainium AI chips. This dual relationship allows Amazon to profit both from investment gains and cloud infrastructure spending.
Additional commitments
Gains flowing into Amazon’s earnings
The investment has already boosted Amazon’s financial results. In Q1 2026 alone, the company recorded $12.3 billion in “Other income” from upward adjustments tied to Anthropic. Amazon also booked $3.3 billion and $4.5 billion in gains from note conversions in 2025 and early 2026. The latest valuation marks a sharp increase from the $61 billion stake value disclosed in February.
Amazon’s relationship with Anthropic extends beyond equity. Through AWS Bedrock , Amazon offers Anthropic’s models to corporate customers, while Anthropic itself is a major AWS client, committing to Amazon’s Trainium AI chips. This dual relationship allows Amazon to profit both from investment gains and cloud infrastructure spending.
Additional commitments
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