Alphabet and Amazon reported higher Q3 profits, driven in part by rising valuations of their investments in Anthropic, the maker of the Claude AI chatbot.

Alphabet recorded US$10.7 billion in net gains on equity securities, partly cited to its stake in Anthropic, according to sources familiar with the matter.

Amazon’s Q3 profit rose 38%, including a US$9.5 billion pretax gain from its Anthropic investment, reflected in its nonoperating income.

Anthropic raised US$13 billion in September, nearly tripling its valuation to US$183 billion.

Both Alphabet and Amazon have invested billions in Anthropic, with Google Cloud also signing a major AI chip supply deal with the startup this month.

🔗 Source: Bloomberg

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