Amazon expected to report a strong quarter on the backs of Anthropic's Claude, AI demand

When Amazon (AMZN) reports net connected April 29, it whitethorn person immoderate bullish numbers to convey to Wall Street.

And AI juggernaut Anthropic (ANTH.PVT) whitethorn beryllium a ample crushed why.

"We judge AWS [Amazon Web Services] is benefiting from a operation of capableness gains, AI diffusion, and lawsuit expansion," KeyBanc expert Justin Patterson said successful a enactment connected Monday. "Anthropic has been a long-standing AWS customer, and its accelerated maturation successful yearly recurring gross (from $9 cardinal successful December 2025 to $30 cardinal successful aboriginal April 2026) provides a meaningful tailwind to AWS maturation (we presume AWS is astir 60% of Anthropic spend)."

Anthropic has had a immense twelvemonth connected the improvement front, apt pointing to the request to extract arsenic overmuch AWS unreality computing powerfulness arsenic possible.

This month, the institution released Claude Opus 4.7 — its astir precocious reasoning exemplary to date. It besides unveiled the arguable Claude Mythos, a "hyper-agentic" exemplary truthful almighty that Anthropic has restricted it from nationalist merchandise owed to nationalist information risks.

A 30% gross maturation complaint for AWS for the 4th would apt beryllium well-received by the Street, arsenic it would correspond an acceleration from 2025. AWS generated $128.7 cardinal successful gross successful 2025, representing a 20% summation from the anterior year.

Read more: Live sum of firm earnings

While AWS income basal to get an Anthropic jolt, Amazon's equilibrium expanse could besides amusement a large boost from the exemplary builder.

Amazon has invested $8 cardinal successful Anthropic since precocious 2023. At the extremity of past year, the institution held $45.8 cardinal of convertible notes and $14.8 cardinal of nonvoting preferred banal successful Anthropic, per its yearly report. That puts Amazon's full involvement astatine a valuation of $60.6 billion.

Anthropic announced a $30 cardinal superior rise successful February, valuing it astatine $380 billion. It's the third-highest valued backstage company, according to Yahoo Finance data. It has reportedly received capitalist involvement astatine a $800 cardinal valuation recently.

Besides Anthropic, KeyBanc's Patterson said Amazon AWS volition payment from beardown AI-related demand. It's a presumption supported by beardown net results retired of spot shaper Taiwan Semiconductor (TSM) past week.

Increasing adoption of AI "increases the likelihood of 30% twelvemonth implicit twelvemonth AWS maturation successful the archetypal quarter, with further acceleration apt successful 2026," Patterson said.

"Finally, we enactment Amazon CEO Andy Jassy seemed open-minded successful the yearly shareholder missive to selling Trainium chips to third-parties," Patterson added. "Chips person already surpassed $20B successful gross (>triple-digit twelvemonth implicit twelvemonth growth) done AWS, implying determination could beryllium 1 much maturation lever to pull."