Amazon's 21% stake in Anthropic could be worth over $210 billion as the AI startup reportedly targets an IPO valuation of at least $1 trillion. The AI company, which was valued at $965 billion in its last funding round in May, is planning to go public in October. Amazon built its stake with a total investment of $13 billion. The unrealized gains from this investment have already significantly impacted Amazon's financials, boosting its Q2 2026 net income by contributing $53.4 billion to its "other" net income. Anthropic's annualized revenue reached $47 billion in mid-May, and it is also required to use Amazon Web Services (AWS) as its primary cloud provider.