Amazon Stocks Rise 1.15% as Anthropic IPO Range Puts a Price on Its Stake Khac Phu Nguyen Tue, November 10, 2026 at 12:56 PM EST 1 min read AMZN +0.89% ANTH.PVT Trade AMZN on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Amazon.com (NASDAQ:AMZN) shares rose 1.15% to $270.00 as of 9:53 a.m. ET in regular trading on November 10, after Anthropic priced its IPO range at $70 to $78. The same filing disclosed that $579.3 million of Amazon convertible notes will become 276,827,518 Class N shares just before the deal closes. The filing calls that the maximum Amazon can receive without breaching an ownership cap.
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The block is only part of the exposure. Amazon put the carrying value of its Anthropic investments at $190.4 billion in a July disclosure. Yahoo Finance's review of the filings also shows Amazon agreed to provide up to $15 billion more financing tied to compute milestones. Anthropic has committed about $450 billion to cloud spending, including deals with Amazon, after posting $16.3 billion of first-half revenue.
My math puts the converted block at $19.4 billion at the bottom of the range, $20.5 billion at the midpoint and $21.6 billion at the top. Once Anthropic trades, every swing in its price could flow into Amazon's non-operating results. GuruFocus scores Amazon at 94/100, with Profitability 8/10, Financial Strength 7/10, Momentum 8/10 and GF Value Rank 7/10. The shares sit 4.35% above the $258.75 GF Value, so the "Fairly Valued" tag leaves little cushion. The next test is the final IPO price and whether Anthropic's compute commitments show up in AWS growth.
