Overview
- Amazon, which was reported Monday to commit up to $25 billion to Anthropic, would put $5 billion in upfront with up to $20 billion triggered by commercial milestones.
- Anthropic said it will spend more than $100 billion on Amazon Web Services over the next 10 years and has lined up as much as 5 gigawatts of capacity to train and run its Claude models.
- The partnership centers on AWS infrastructure, including current and future versions of Amazon’s Trainium chips that handle AI training and inference.
- Analysts stayed positive on the stock as Bank of America raised its target to $298, Stifel cut to $294 but kept a Buy, and William Blair continued to call 2026 the peak year for capital spending.
- AWS remains the financial engine with Q4 2025 marking its fastest growth in 13 quarters, a $142 billion annualized run rate, and a $244 billion backlog that supports multi‑year revenue visibility.