2026-09-08Binding
Qualcomm (Provider) · Amazon (Buyer)
- Value
- up to $60B
- Capacity / term
- n/a · 10y
- First revenue
- 2026-12
Qualcomm's largest push yet into AI data-center silicon, and its first hyperscaler customer for the strategy. The $60B figure is a warrant-vesting ceiling disclosed by Qualcomm itself in its 8-K, not a stated minimum purchase commitment, so it is entered with an up_to qualifier per the same treatment used for the Amazon-Anthropic and Microsoft/Nvidia-Anthropic investment rows. Found and researched 2026-09-11 but never entered: the branch that added it sat open a month and could not be merged once main's history moved past its base, so it is backfilled here with recorded set to the actual entry date rather than the research date. Re-checked against the same primary sources on 2026-10-12; nothing material had changed.
Conditions: Multi-generational custom-silicon collaboration: Qualcomm Technologies builds custom AI inference chips, server-class systems and manufacturing services for AWS, plus joint work on 1.6T+ optical connectivity. Disclosed via a Qualcomm Item 3.02 8-K covering a warrant Qualcomm issued to Amazon.com NV Investment Holdings for up to 25,000,000 Qualcomm shares at $161.26/share (expires 2036-09-03), vesting in tranches tied to Amazon placing binding purchase orders and actually buying Qualcomm's server chip products, technology, systems and manufacturing services, up to a $60B payments ceiling that triggers full vesting. 3,750,000 shares vested immediately on issuance based on an undisclosed initial purchase commitment. The $60B is the vesting ceiling, not a guaranteed minimum spend, hence the up_to qualifier; no MW or chip-count figure was disclosed. The warrant itself is separately valued at roughly $4B at issuance by multiple outlets -- that is the value of the stock grant, not the purchase commitment, and is not the figure this row carries. Qualcomm said it is already in production with Amazon and expects revenue from the relationship starting in its December 2026 quarter.
2026-04-20Binding↻ CircularExpansion Amazon (Financier) · Anthropic (Buyer)
- Value
- up to $25B
- Capacity / term
- n/a
- First revenue
- not disclosed
Amazon's April 2026 expansion: up to $25B of further investment in Anthropic ($5B immediate, up to $20B milestone-tied), on top of the $8B invested through November 2024. The up-to figure is recorded with its qualifier and the staged structure in conditions; only time will tell how much funds. Circular: announced in the same breath as Anthropic committing over $100B of spend back to AWS.
Conditions: Staged: $5B immediate, up to a further $20B tied to milestones. Announced alongside Anthropic's ten-year AWS spend commitment (anthropic-aws-commitment-2026-04).
2026-04-20Binding↻ Circular
Amazon (Provider) · Anthropic (Buyer)
- Value
- at least $100B
- Capacity / term
- n/a · 10y
- First revenue
- not disclosed
Anthropic's commitment of more than $100B over ten years to AWS technologies, announced with Amazon's up-to-$25B investment (amazon-anthropic-investment-2026-04) and up to 5 GW of new Trainium capacity. Sits alongside Anthropic's $30B Azure commitment and the Google TPU agreement as the third leg of its stated multi-cloud strategy. Circular: buyer and provider are cross-invested.
Conditions: Includes deployment of up to 5 GW of new Trainium compute capacity for training and serving Claude, with significant Trainium3 capacity expected online in 2026. The 5 GW is an up-to ceiling, so no MW is recorded on this row; the ledger only counts capacity floors.
2024-11-22Binding↻ Circular
Amazon (Financier) · Anthropic (Buyer)
- Value
- $4B
- Capacity / term
- n/a
- First revenue
- not disclosed
The earliest row in the ledger and the template for compute-linked equity: Amazon's additional $4B investment (total $8B) announced alongside AWS becoming Anthropic's primary cloud and training partner on Trainium silicon. The compute relationship this seeded later produced Project Rainier (~500,000 Trainium2 chips activated October 2025, ~1M by year-end) and the April 2026 expansion (amazon-anthropic-investment-2026-04, anthropic-aws-commitment-2026-04). Circular: the compute provider funding its own customer.
Conditions: Doubled Amazon's total Anthropic investment to $8B; only the incremental $4B tranche is recorded on this row. Announced with AWS becoming Anthropic's primary cloud and training partner, training on AWS Trainium.