Mega-Deal Monday
Amazon Pours Another Twenty-Five Billion Into Anthropic
Amazon commits up to $25 billion on top of its prior $8 billion stake — $5B now at a $380B valuation, $20B tied to commercial milestones — in exchange for Anthropic’s promise to spend $100B+ on AWS over ten years and secure up to five gigawatts of Trainium2/Trainium3 capacity.
Amazon announced it will invest up to $25 billion in additional capital in Anthropic, on top of the $8 billion already invested. $5 billion goes in now at a $380 billion valuation; the remaining $20 billion is tied to commercial milestones.
In exchange, Anthropic has committed to spend more than $100 billion on AWS infrastructure over the next ten years and secure up to five gigawatts of Trainium2 and Trainium3 capacity — positioning AWS as the primary training and inference backbone for the Claude model family.
The deal mirrors Amazon’s $50 billion OpenAI cloud deal from two months ago, completing a picture in which the two largest independent frontier labs now have hyperscaler capital partners — OpenAI with Microsoft and Amazon, and Anthropic with Amazon and Google.
At a $380 billion valuation, Anthropic trails only OpenAI among AI-native private companies. The deal tracks with Anthropic’s projected 2026 ARR of roughly $35 billion.
Analysts read the structure — capital plus commitment — as the new template for hyperscaler-AI lab relationships, replacing the simpler equity-plus-credits deals of 2023-2024.