AMD Committed Up to $5 Billion to Anthropic, and Anthropic's IPO Prospectus Is Reportedly Days Away

Anthropic's forthcoming IPO prospectus could provide further insights into the company's $100 billion commitment to Amazon Web Services (AWS), according to recent reports. This significant contract, announced in April, represents approximately one-fifth of AWS's $496 billion backlog of contracted work. While AWS has disclosed the deal, the prospectus will likely offer more details about the commitment, including Anthropic's financial standing and the specifics of its AI chip investments, such as the Graviton processors and Trainium2 through Trainium4 AI chips.

The prospectus, due to be published following the Labor Day holiday, will also reveal how this agreement impacts AWS's backlog growth, which has surged by 154% year-over-year. As of now, AWS's backlog has grown to $496 billion, up from $364 billion in March and $195 billion in mid-2025. Additionally, the prospectus will highlight Amazon's own financial investment in Anthropic, with additional funds earmarked for the company, totaling up to $15 billion under a financing arrangement tied to compute-delivery milestones.

With Amazon's stock trading at a forward price-to-earnings ratio of 24, investors are considering the potential risks and rewards, especially as Anthropic's market valuation could reach about $2 trillion, nearly double its current private-market value.