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How much Anthropic and Cursor spend on Amazon Web Services

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152 points isoprophlex | 4 comments | 20 Oct 25 15:05 UTC | HN request time: 0s | source
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rdtsc ◴[20 Oct 25 15:36 UTC] No.45645145[source]▶
> through September, Anthropic has spent more than 100% of its estimated revenue (based on reporting in the last year) on Amazon Web Services, spending $2.66 billion on compute on an estimated $2.55 billion in revenue.

Well I don't have to scratch my head any longer and wonder why Amazon hasn't jumped on the AI bandwagon with their own Gemini or whatever. They are sitting pretty and selling shovels and pickaxes to the AI fools. Not a bad strategy for them...

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haberdasher ◴[20 Oct 25 15:44 UTC] No.45645214[source]▶
Amazon owns 15-19% of Anthropic. So yes and no.
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tinyhouse ◴[20 Oct 25 16:09 UTC] No.45645535[source]▶
No way their share is so high. Where did you get these numbers from?
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1. swyx ◴[20 Oct 25 16:15 UTC] No.45645601{3}[source]▶
it's a number 2 years out of date. they invested 8b and ant is now worth 183b.
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2. cortesoft ◴[20 Oct 25 16:49 UTC] No.45646049[source]▶
That doesn't tell us what percentage they own, though. When you invest in a company and the value goes up, your percentage doesn't change (unless there are additional investors)
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3. swyx ◴[20 Oct 25 17:07 UTC] No.45646322[source]▶
that's really naive im afraid. you have to take pro rata or the percentage goes down. amzn did not take pro rata.
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4. cortesoft ◴[20 Oct 25 20:12 UTC] No.45648700{3}[source]▶
I am not sure what you mean by naive. I also didn't say the percentage wouldn't go down, I literally said other investment rounds would change the percentage they own.

Amazons investment in Anthropic was in the form of convertible notes, which they have converted entirely into equity by march of this year. At that time, Anthropic was valued at 61.5 billion and Amazon (in their filings) said their investment was worth 13.8 billion, so about 22% of the company.

Then, there was another round in September where Anthropic raised 13 billion more at a valuation of 183 billion (so the new investors are buying about a 7% stake in the company). Without more details, that would lower amazons percentage to about 20% (old investors hold 93% of the company, so Amazon's 22% of the remaining 93% comes out to about 20%). There are probably other details that lower that percentage a bit, but i think the 15-19% ownership estimate is pretty accurate.