Amazon deepens Anthropic ties with equity conversion, adding billions to Q1 profit
A slide promotes Amazon’s Anthropic partnership at AWS re:Invent 2023, not long after it was announced. (GeekWire File Photo / Todd Bishop)
Amazon restructured part of its investment in AI startup Anthropic from convertible notes into stock in the first quarter — creating a $3.3 billion pre-tax gain that boosted its profits and helped the tech giant exceed Wall Street’s expectations.
The conversion deepens the strategic alignment between the companies, starting to transform Amazon’s investment i...
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