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The race to build smarter technology is moving fast. This week, Anthropic said it will spend over $100 billion on Amazon (AMZN) Web Services (AWS) over the next ten years. Amazon, in turn, is putting $5 billion into Anthropic right away, with the option to add up to $20 billion more later.
All of this is happening as the biggest tech companies prepare to invest around $650 billion in AI‑related projects in 2026, with Amazon planning about $200 billion in spending, much of it aimed at AWS data centers and its own chips. AWS has already reached roughly $15 billion in yearly revenue from AI‑related services, giving an extra boost to its cloud business.