Anthropic Discloses $110 Billion Amazon Cloud Commitment and Surging Marketplace Revenue Share

Anthropic's confidential IPO prospectus reveals the AI startup routed 47% of its 2025 revenue through cloud partners Amazon and Google, up from 32% in 2024. Amazon and Google collected about $351 million in distribution fees on $2.16 billion of marketplace sales in 2025. Across a planned decade-long $518 billion infrastructure spending spree, Amazon is set to receive at least $110 billion for Amazon Web Services infrastructure, including AWS Trainium chips and the Project Rainier cluster. Alphabet will capture at least $111.1 billion, Microsoft $31.4 billion, and SpaceX up to $84.5 billion through 2029.