Recent IPO filings by AI startup Anthropic have revealed the scale of Amazon’s investment. Amazon has invested at least $13 billion since 2023 and may invest up to $20 billion more.
The investment includes $6.2 billion in convertible notes. The notes could convert into a significant equity stake if Anthropic goes public.
Amazon’s ownership is capped at 12%, and its shares carry no voting rights, giving it financial exposure without direct control of the AI safety-focused company. Amazon and Google are both major backers and key cloud service providers to Anthropic.
Anthropic has committed to spending at least $110 billion on Amazon’s cloud services.