Amazon’s $8B AI Bet Begins to Pay Off as Anthropic Boosts AWS Growth

Amazon’s $8B AI Bet Begins to Pay Off as Anthropic Boosts AWS Growth

Morgan Stanley forecasts billions in future revenue for Amazon Web Services from its partnership with Anthropic

Amazon’s $8 billion investment in AI startup Anthropic is proving to be one of its most strategic bets to date—positioning Amazon Web Services (AWS) for explosive growth in the AI infrastructure market over the next three years.

According to a new investor note from Morgan Stanley, AWS could see its revenue from Anthropic grow from $1.28 billion in 2025 to $5.6 billion by 2027, as the AI company scales its operations and cloud usage.

“This alliance is a game changer for AWS,” the note said, predicting it will become one of the key drivers of Amazon’s cloud revenue acceleration.

From $8 Billion to $13.8 Billion: Amazon’s Largest Startup Investment

Amazon’s stake in Anthropic, valued at $13.8 billion earlier this year, is already paying dividends—not just on paper but in real cash flow potential.

Anthropic, a major competitor to OpenAI, is heavily reliant on AWS’s Trainium AI chips and broader cloud services. This usage forms the basis of Morgan Stanley’s bullish projection, which assumes Anthropic’s AI workloads will multiply rapidly in coming years.

AWS is now responsible for running most of Anthropic’s inference models, and any future model training would drive even more cloud revenue, analysts said.

Anthropic’s Own Growth Is Also Accelerating

Anthropic’s own financial trajectory is expected to climb sharply, according to Morgan Stanley:

• $4 billion in revenue in 2025

• $10 billion in 2026

• $19 billion in 2027

With 60% gross profit margins and 75% of operational costs going to AWS, Amazon’s cloud arm stands to capture a sizable share of that growth.

“Inference remains the biggest cost center,” Morgan Stanley wrote, “and AWS is the primary beneficiary.”

Why AWS Is Poised to Outpace Cloud Rivals

Even beyond Anthropic, AWS has maintained annual growth between 16% and 19% over the last five quarters, demonstrating resilience in its core offerings.

Morgan Stanley also noted that enterprise demand for generative AI infrastructure—as seen with Microsoft Azure—suggests AWS could ride the same wave of expansion.

And with GPU supply constraints easing, there is potential for faster growth in both GPU and non-GPU AI workloads across AWS’s ecosystem.

Cloud War Heats Up: Can Amazon Gain Ground on Microsoft and Google?

According to Morgan Stanley’s most recent CIO survey, AWS may gain cloud market share in the near term—narrowing the gap with Microsoft and Google Cloud.

“Our AWS base model may still be conservative,” analysts concluded, hinting at further upside if Anthropic’s growth trajectory holds.

With new investments in AI startups like Anthropic and deepening infrastructure integration, Amazon is quietly reinforcing its dominance in the cloud—and preparing for a future built on artificial intelligence.