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Amazon's Anthropic stake is leading to a huge windfall
Then-Amazon Web Services CEO Adam Selipsky gestures toward Anthropic CEO Dario Amodei during a conference.Noah Berger/Getty Images for Amazon Web ServicesAmazon's stake in Anthropic is paying off big time.Amazon said most of its other non-operating pre-tax income was due to its Anthropic holdings.Amazon has previously invested $13 billion in Anthropic.Amazon's stake in Anthropic is proving to be a massive boon to the world's largest online retailer.In its latest quarterly earnings report, Amazon reported non-operating pre-tax other income of $53.4 billion, "primarily from our investment in Anthropic."According to previous financial filings, Amazon has invested $13 billion in Anthropic with the potential for up to $20 billion more.In June, Anthropic announced that it confidentially filed for an initial public offering, taking the first step toward a highly anticipated IPO. In late May, Anthropic said that it had completed a Series H funding round that valued the company at $965 billion.Amazon isn't the only Big Tech name sharing in Anthropic's success.On Wednesday, Microsoft reported its investment in Anthropic had netted a $3.2 billion gain. Microsoft previously invested $5 billion in Anthropic.Anthropic has seen its valuation skyrocket as the popularity of its Claude family of models pushes the overall generative AI race.Read the original article on Business Insider
