Amazon's Anthropic stake is leading to a huge windfall

Amazon’s latest quarterly results were boosted by a large accounting gain tied to its Anthropic investment, highlighting how AI-related stakes are increasingly affecting Big Tech earnings. Amazon reported $53.4 billion in non-operating pre-tax other income, primarily from its Anthropic holding, versus prior filings showing $13 billion invested with up to $20 billion more possible. The article also notes Anthropic’s rapidly rising valuation after a Series H round valued it at $965 billion and a confidential IPO filing in June. Microsoft separately disclosed a $3.2 billion gain from its own Anthropic investment, underscoring broad investor enthusiasm for the AI company. The development is likely to support sentiment around Amazon’s AI strategy and cloud positioning, while also emphasizing that some of the earnings uplift is non-operating rather than core retail/AWS performance.