Amazon to Invest $5 Billion in Anthropic, With Up to $20 Billion More Tied to Milestones

Amazon said Monday it will invest $5 billion now in artificial intelligence startup Anthropic and could invest up to $20 billion more if certain commercial milestones are met, as Anthropic committed to spend more than $100 billion on Amazon Web Services over the next decade.

The April 20 announcement, posted on Amazon’s About Amazon site, frames the deal as a much broader cloud and computing partnership than a simple financing round. Alongside the new investment, Amazon said Anthropic will secure up to 5 gigawatts of capacity to train and run its AI models using current and future generations of Amazon’s Trainium chips and tens of millions of AWS Graviton cores.

That structure significantly deepens the companies’ ties. Amazon said the $5 billion investment is being made “today” and is in addition to the $8 billion it had previously invested in Anthropic. That brings Amazon’s stated investment to $13 billion so far, with up to $33 billion possible if the milestone-based portion is fully triggered. Amazon also made clear the additional up to $20 billion is conditional, tying it to commercial milestones and including forward-looking-statements language in the announcement.

Amazon said Anthropic also committed to spend “more than $100 billion over the next ten years on AWS technologies,” underscoring that the expansion is designed to lock in a large, long-term AI workload on Amazon’s cloud infrastructure. The company said Anthropic will use Amazon’s current and future Trainium chips and large-scale Graviton capacity, with Trainium3 capacity expected to come online this year.

The companies are also expanding how Anthropic’s products are sold through AWS. Amazon said Anthropic’s Claude Platform will be made available directly within AWS accounts, allowing customers to use Anthropic’s native console without separate credentials, contracts or billing relationships. Anthropic’s Claude models already run on Amazon Bedrock, Amazon’s service for building with foundation models, and Amazon said more than 100,000 customers already run Anthropic Claude models on AWS and Bedrock.

Amazon Chief Executive Andy Jassy said in the announcement: “Our custom AI silicon offers high performance at significantly lower cost for customers, which is why it’s in such hot demand. Anthropic's commitment to run its large language models on AWS Trainium for the next decade reflects the progress we've made together on custom silicon, as we continue delivering the technology and infrastructure our customers need to build with generative AI.”

Anthropic CEO and co-founder Dario Amodei said: “Our users tell us Claude is increasingly essential to how they work, and we need to build the infrastructure to keep pace with rapidly growing demand. Our collaboration with Amazon will allow us to continue advancing AI research while delivering Claude to our customers, including the more than 100,000 building on AWS.”

Amazon said the expanded arrangement builds on a partnership first announced in September 2023, when Amazon agreed to invest up to $4 billion in Anthropic. Amazon completed that amount in March 2024 and announced another $4 billion in November 2024, bringing its prior investment to $8 billion before Monday’s announcement. For additional scale, Amazon said its existing Project Rainier work with Anthropic involves nearly half a million Trainium2 chips and described it as one of the world’s largest AI compute clusters.

The deal reflects how major cloud providers are pairing capital with infrastructure commitments to secure AI workloads, while stopping short of exclusivity. Earlier this month, Anthropic disclosed an expanded agreement with Google and Broadcom for roughly 3.5 gigawatts of next-generation TPU capacity starting in 2027, according to company statements reported by Reuters and Broadcom filings. The earlier Amazon-Anthropic partnership also drew regulatory scrutiny in Britain, where the U.K. Competition and Markets Authority reviewed the arrangement in 2024 and concluded it did not amount to a reviewable merger under U.K. rules.