Anthropic Has Committed More Than $100 Billion to AWS, and Its Prospectus Could Reveal More Details About This Contract

Anthropic is preparing to publish its initial public offering (IPO) prospectus, an event with significant implications for Amazon (AMZN) investors. In April, Anthropic entered into a massive multi-year commitment to spend more than $100 billion over 10 years on Amazon Web Services (AWS) compute capacity, covering up to 5 gigawatts of infrastructure powered by Amazon's proprietary Graviton and Trainium AI chips. This commitment represents roughly 20% of AWS's total contracted backlog, which surged 154% year-over-year to $496 billion as of June 30. The forthcoming prospectus will provide the market's first audited look at Anthropic's financial health, cash flow, and binding purchase obligations. While Anthropic has self-reported rapid growth reaching an annualized revenue run rate of $65 billion by July, Amazon's financial exposure is heightened by an additional $10 billion direct investment in 2026, with up to $15 billion more tied to milestone financing. AWS posted robust momentum in Q2 2026, with segment revenue rising 37% to $42.2 billion and operating income surging 63% to $16.6 billion, bolstering the market outlook.