Anthropic Pledges to Spend $110 Billion With Amazon Through 2036 to Support Computing
Key Facts
Anthropic is pledging to spend $110 billion with Amazon on computing capacity through 2036, according to a Reuters report on the company’s offering papers. The commitment represents long-term demand for Amazon’s cloud infrastructure, but not immediate realized revenue for the company. In a separate announcement on expanding the partnership, Anthropic said it would commit more than $100 billion to AWS technologies over the next 10 years. It added that the agreement provides up to 5 gigawatts of computing capacity to train and run Claude. The offering papers were published on Monday, October 26, as Amazon shares rose nearly 1% during the session, according to Reuters.
Anthropic’s sales figures reveal the growing role of cloud computing platforms in distributing its services. The company generated 48% of its revenue through cloud computing partners Google, Amazon and Microsoft in the first half of 2026, compared with 11% in 2023, according to Reuters. This indicates that its relationships with the three companies combine computing capacity with sales channels for cloud services. For Amazon, the announced commitment links growth in demand for AWS services to the needs of training and running models. In its announcement in April, Anthropic said more than 100,000 customers run Claude on Amazon Bedrock. It also said it uses more than 1 million Trainium2 chips to train and run Claude as part of Project Rainier, which it described as one of the world’s largest computing clusters.
Amazon is also an investor in Anthropic, in addition to its role as an infrastructure provider. In a filing with the U.S. Securities and Exchange Commission, Amazon said upward adjustments to its investments in private companies totaled $50.5 billion in the second quarter of 2026 and $62.8 billion in the first half of the year. The company attributed most of those adjustments to changes in the prices of its non-voting preferred shares in Anthropic. The investment adds a financial link to the commercial commitments between the two parties as the developer of Claude prepares to go public. Anthropic said its shares will be listed on the Nasdaq Global Select Market under the symbol ANT.
Amazon’s gains came as AI stocks broadly advanced on Monday, with Nvidia shares rising nearly 3% and Amazon and Microsoft each gaining close to 1%, according to Reuters. But the report placed the market moves in the context of investor concern about debt-funded spending on AI infrastructure. Analysts quoted by Reuters, however, said a successful offering by an AI-focused company such as Anthropic could reshape market valuations for chipmakers and infrastructure companies tied to the sector. The reaction thus combined interest in the demand that long-term commitments could provide with caution about the cost of financing expansion. The report did not specify an exact daily share price or the dollar amount of its change.
The potential offering follows rapid growth in Anthropic’s business: its revenue exceeded $16 billion in the first half of 2026, 14 times the revenue in the same period a year earlier, according to the Associated Press. At the same time, the large computing commitments underscore the resources the company needs to develop and run its models, while a growing share of its revenue depends on sales through its cloud partners’ marketplaces. Anthropic is expected to begin marketing its shares to investors during the week of November 9, according to Reuters, though the plan and timing remain subject to change. Investors are watching the offering process amid the company’s commercial expansion and market concerns about infrastructure financing. Amazon, for its part, is both a computing provider and an investor in the company, making the offering’s results relevant to valuations of AI companies and related infrastructure firms.