Amazon’s 21% stake in AI startup Anthropic could surge in value if the company’s $1 trillion IPO target is met.
Amazon’s 21% stake in Anthropic, acquired through $13 billion in investments, could be worth over $210 billion if the AI startup’s reported $1 trillion IPO valuation holds. The stake is currently valued at $965 billion on Amazon’s books, reflecting its latest funding round in May.
Amazon’s second-quarter 2026 net income jumped 245% year over year to $62.6 billion, driven largely by unrealized gains from Anthropic. The investment contributed $53.4 billion to its “other” net income, accounting for two-thirds of pre-tax earnings. Under GAAP, these gains have already been recorded incrementally.
A $1 trillion IPO would not immediately boost Amazon’s net income, as the gains are already reflected in its financials. However, market sentiment could shift if Anthropic’s valuation fluctuates post-IPO.