Anthropic Commits $100 Billion to AWS Over Ten Years as Its Revenue Surpasses $30 Billion Run Rate
The sweeping new deal with Amazon, which builds on $8 billion in prior investment, turns Anthropic into one of Amazon's most significant cloud and chip customers alongside its role as a portfolio company.
Anthropic's agreement with Amazon announced on April 20 contains a financial commitment from the AI startup that rivals the scale of the investment itself: Anthropic has pledged to spend more than $100 billion on Amazon Web Services technologies over the next ten years, encompassing cloud computing, storage, and Amazon's custom Trainium AI chips. The scope of that spending commitment underlines how thoroughly Anthropic has become embedded in Amazon's infrastructure ecosystem, even as it also maintains computing arrangements with Google and Microsoft.
Anthropic's revenue trajectory makes the scale of the deal easier to understand. The startup's annualized revenue run rate surpassed $30 billion in early April, up from approximately $9 billion at the close of 2025 — a more than threefold increase in under four months.
That growth has been driven in large part by Claude Code, Anthropic's AI coding assistant, which has drawn hundreds of enterprise customers into multi-million-dollar annual subscriptions as AI-assisted software development becomes standard practice at major technology and financial services firms.
The structure of the Amazon deal mirrors a pattern that has come to define the AI investment landscape. Major cloud providers and chip companies invest in AI startups, which then commit to spending the capital back on the investors' infrastructure products.
Amazon, Google, and Microsoft have all deployed this model simultaneously, creating interlocking financial relationships that give each hyperscaler both equity upside and guaranteed compute revenue from the same counterparties.
Both Amazon and Anthropic are exploring potential initial public offerings this year, adding urgency to the deal's commercial terms. Anthropic is separately planning nearly one gigawatt of Amazon Trainium2 and Trainium3 computing capacity by year-end as it works to meet surging demand for its enterprise products.
Read the original reporting at The New York Times.
