Amazon's Anthropic loans: $6.2 billion owed, $97.9 billion valued

Amazon's filings valued its Anthropic loans at $97.9 billion as of June 30, though only $6.2 billion was still owed. The loans can convert into up to 1.84 billion Class N shares, subject to a 12% cap Amazon can waive, according to Anthropic's S-1 filing with the SEC. Anthropic announced its IPO, or stock market debut, on October 26, 2026.