Amazon is committing up to $25 billion more to AI startup Anthropic in a deal that secures over $100 billion in cloud spending over the next decade. The arrangement represents Amazon's second consecutive mega-round with a frontier AI lab, following a near-identical $50 billion investment in OpenAI two months ago.
The e-commerce giant will invest an immediate $5 billion into Anthropic at the startup's latest valuation of approximately $380 billion, with up to $20 billion more contingent on commercial milestones. This adds to the $8 billion Amazon had already committed since 2023, bringing total potential investment to around $33 billion.
In return, Anthropic pledged to spend more than $100 billion on Amazon Web Services technologies over ten years, including current and future generations of Trainium custom AI chips. The startup will bring nearly one gigawatt of combined Trainium2 and Trainium3 capacity online by year-end, securing up to five gigawatts of compute capacity for training and deploying its Claude models.
The deal covers current Trainium2 chips, forthcoming Trainium3 hardware, and unreleased Trainium4 silicon. It also includes tens of millions of Graviton CPU cores, locking Anthropic into AWS infrastructure through at least 2036.
Anthropic's annualized revenue has reached $30 billion according to company disclosures. The startup clinched a separate $30 billion funding round in February that valued it at approximately the same level, though some investors have reportedly offered valuations exceeding $800 billion ahead of a potential IPO.
Amazon expects to spend roughly $200 billion this year on capital expenditures, mostly on AI infrastructure as major cloud providers compete for compute capacity. The company previously invested in OpenAI using similar terms: equity funding paired with long-term cloud commitments.
Claude remains the only frontier AI model available across all three major cloud platforms, AWS Bedrock, Google Cloud Vertex AI, and Microsoft Azure, though this deal strengthens its AWS integration.
