Key Highlights

  • The S-1 chart data lists USD 110.0B for Amazon among USD 637.0B of named Anthropic compute commitments; simple arithmetic on those two figures puts Amazon (NASDAQ:AMZN) at about 17.3% of the named total.
  • About 48% of Anthropic's first-half 2026 Revenue came through cloud marketplaces, the S-1 chart data shows, and a private bank's CIO office names AWS, Google Cloud and Azure as the three channels.
  • Anthropic's sales, Marketing and partnerships costs, which include cloud-partner fees, grew 26.4 times year over year against revenue growth of 14.0 times, according to the S-1 chart data.
  • A private bank's CIO office warns that run-rate figures are not directly comparable: Anthropic counts the gross value of some sales through cloud partners, while OpenAI counts only its share.

What the S-1 Chart Shows

Anthropic filed its S-1 with the SEC on October 26, 2026, and a set of charts built on it names compute commitments by partner. Amazon is shown at USD 110.0B, behind Broadcom at USD 161.2B, SpaceXAI at USD 120.5B and Google Cloud at USD 114.5B. The named contracts total USD 637.0B. The chart notes say the S-1 leaves its own aggregate blank and that estimated extra Google TPU and AMD capacity is excluded. Separately, about 48% of first-half 2026 revenue came via cloud marketplaces. Simple arithmetic on two published figures puts the Amazon (NASDAQ:AMZN) commitment at roughly 2.4 years of Anthropic's USD 46.2B Q2 2026 annualised run rate.

How the Marketplace Link Works

A private bank's CIO office explains that Anthropic is largely distributed through the cloud platforms of Amazon Web Services, Google Cloud and Microsoft Azure. Customers can buy Claude models through those marketplaces, so Amazon (NASDAQ:AMZN) is both a compute supplier to Anthropic and a sales channel for it. That dual role explains why the S-1 chart data puts sales, marketing and partnerships at USD 3.2B in the first half of 2026, up from USD 120 million a year earlier, with cloud-partner fees included. The same note points out that these partners are also competitors with their own models, and that about 20% of first-half revenue came from just two customers.

Gross Versus Net Caveats

The note stresses that run-rate numbers are not like for like. Anthropic counts the gross value of some sales through cloud partners, while OpenAI counts only its share of partner revenue. A reported Anthropic run rate above USD 65 billion at the end of July 2026 should therefore be read with care beside OpenAI's company figure of nearer USD 50 billion at the end of September. Sources also differ on the size of the commitments: the note cites at least USD 518 billion over the next decade, while the S-1 chart data names USD 637.0B. Neither should be merged with the other. Investors may wait for audited, like-for-like numbers; the note says as much.

Where Things Stand

Anthropic's USD 110.0B Amazon commitment, as shown in the S-1 chart data, is one of seven named partner contracts adding up to USD 637.0B, and it sits alongside the roughly 48% of first-half 2026 revenue that moved through cloud marketplaces. For Amazon (NASDAQ:AMZN) the link runs two ways, supplier and sales channel. The chart data and the private bank's note use different commitment totals, USD 637.0B and at least USD 518 billion, and the gross versus net caveat on run rates remains unresolved. This is a description of filed and reported figures, not advice.