Mar. 6 at 8:04 PM
BoA 5-star analyst (#136 out of 12,132 Wall Street Analysts) reiterates Buy rating on
$AMZN & keeps TP of
$275
Anthropic ARR nearing
$20B
“We see Anthropic’s recent ARR acceleration as a positive proof point for all hyperscalers & could help reduce a recent sector overhang on capex investment uncertainty"
If a significant portion of Anthropic workloads run on AWS & it earns half of the startup’s model training costs, Amazon could see a
$1B increase in q/q revs tied to Anthropic
“remain constructive” on AWS, as the cloud business should be able to monetize its additional capacity at a higher rate than Wall Street anticipates Because of that, investors should be able to have more confidence in the return on investment in near-term cap-ex
Note: Anthropic ARR hit over
$9B at the end of 2025 (was
$4B in July 2025)
Note:
$AMZN is the largest external shareholder & initial
$8B investment is worth over
$60B (~3.2% of EV)
$GOOGL $3B initial investment now worth over
$49B (~2.1% of EV)
