Amazon.com Inc. is discussing a fresh multibillion-dollar funding round for Anthropic PBC that would lift the e-commerce and cloud group’s stake beyond the $8 billion it has already committed, the Financial Times reported, citing people familiar with the talks. Amazon’s existing investment, largely in convertible notes, had a fair value of about $13.8 billion at the end of last year. An additional cash infusion would deepen a partnership that has become central to both companies’ artificial-intelligence ambitions. Anthropic relies on Amazon Web Services’ Trainium2 chips and a massive joint infrastructure build-out known as Project Rainier, where Amazon plans 30 data centres in Indiana drawing roughly 2.2 gigawatts of power. The two firms also co-market Anthropic’s Claude models to AWS customers through the Bedrock platform. A larger stake would help Amazon counterbalance Microsoft’s $14 billion alliance with OpenAI and Google’s own investment of more than $3 billion in Anthropic. The San Francisco-based start-up was valued at about $61.5 billion in March and is generating an annualised revenue run-rate above $4 billion, according to the FT. Amazon declined to comment on what it called market speculation, and Anthropic did not immediately respond to requests for comment.