作者 | 董 静 编辑 | 硬 AI 巴克莱称，Anthropic的API业务规模和增速已超越OpenAI，为AWS带来巨大营收贡献。数据显示，Anthropic的API业务 2025年预计将激增至39.07亿美元，增长662%，而OpenAI仅增长80%。如果Anthropic四季度开始预训练Claude 5，加 上推理营收，Anthropic单独就可能为AWS每季度贡献总计4%的增长。 硬·AI 亚马逊云服务AWS的AI增长潜力被严重低估，因与其深度合作的Anthropic的API业务正在为AWS带来显 著营收贡献。 9月3日，巴克莱最新分析报告显示，Anthropic与亚马逊AWS的深度合作正为云服务巨头带来显著增长动 力，但市场尚未充分认识到这一AI驱动增长的潜力。如果AWS能够保持与Anthropic的训练工作负载合 作，该公司有望在第四季度实现超预期的收入增长。 巴克莱分析师估计， Anthropic目前（2025年第二季度）为AWS贡献约1%的增长，但随着Claude 5训练 和现有推理收入的双重推动，这一贡献可能升至每季度4% 。关键在于，Anthropic的API业务规模已经超 越OpenA ...

Core Viewpoint - Barclays reports that Anthropic's API business has surpassed OpenAI in both scale and growth rate, significantly contributing to AWS's revenue [1][9][11]. AWS and Anthropic Collaboration - The deep collaboration between AWS and Anthropic is expected to drive substantial revenue growth for AWS, with estimates suggesting that Anthropic could contribute approximately 4% to AWS's quarterly growth by Q4 2025 [3][19]. - Barclays estimates that Anthropic's API revenue will reach $3.9 billion by 2025, with a staggering year-over-year growth of 662% [11][19]. - The report indicates that Anthropic's contribution to AWS's growth is currently around 1%, but this could increase significantly with the launch of Claude 5 and existing inference revenue [3][19]. Revenue Breakdown - In 2025, Anthropic's total API revenue is projected to be $3.9 billion, with direct API revenue accounting for $3.0 billion and indirect revenue at $0.9 billion [4][10]. - AWS is expected to generate $1.6 billion from Anthropic's API, with inference revenue contributing significantly to this figure [4][10]. Market Perception and Growth Potential - The market has not fully recognized the growth potential of AWS's AI capabilities, particularly in relation to its partnership with Anthropic [3][22]. - Analysts predict that AWS's revenue growth in Q4 could exceed market expectations by approximately 2%, driven by Anthropic's contributions [16][17]. AI Development Environment - The rapid growth of AI integrated development environments (IDEs) is a key factor in Anthropic's success, with tools like Cursor and Lovable leveraging Anthropic's Direct API [13][15]. - The AI IDE market is expected to exceed $1 billion in annual recurring revenue (ARR) by 2025, a significant increase from nearly zero in 2024 [15]. Challenges in Collaboration - Despite the benefits of the partnership, there are potential challenges, including complaints about access to Anthropic models via AWS Bedrock and key clients like Cursor considering alternatives such as OpenAI's GPT-5 API [22][26]. - The relationship between AWS and Anthropic may face strains as major clients explore other options, which could impact future revenue contributions [22][26]. Long-term Growth Outlook - AWS is expected to expand its AI computing capacity significantly, with projections of over 1 million H100 equivalent AI capacities by the end of 2025 [20][21]. - The collaboration with Anthropic positions AWS at the forefront of the AI revenue generation trend, despite uncertainties in the broader market [25][26].

亚马逊云服务AWS的AI增长潜力被严重低估，因与其深度合作的Anthropic的API业务正在为AWS带来显著营收贡献。 9月3日，巴克莱最新分析报告显示，Anthropic与亚马逊AWS的深度合作正为云服务巨头带来显著增长动力，但市场尚未充分认识到这一AI驱动增 长的潜力。如果AWS能够保持与Anthropic的训练工作负载合作，该公司有望在第四季度实现超预期的收入增长。 巴克莱分析师估计，Anthropic目前（2025年第二季度）为AWS贡献约1%的增长，但随着Claude 5训练和现有推理收入的双重推动，这一贡献可 能升至每季度4%。关键在于，Anthropic的API业务规模已经超越OpenAI，并且增长速度更为迅猛。 报告称，Anthropic在2025年将为AWS带来约16亿美元的推理收入，其年度经常性收入(ARR)预计从年初的10亿美元跃升至年底的90亿美元。不 过，业内对AWS Bedrock平台访问Anthropic模型的限制出现抱怨，显示两家公司的合作关系可能面临一些挑战。 | Anthropic API - 2025 | Direct | Indirect | | --- | --- ...

Group 1 - Microsoft has reached an agreement with the U.S. General Services Administration (GSA) to provide cloud services and office software at discounted rates for government agencies over the next three years, saving taxpayers $3.1 billion in the first year and over $6 billion throughout the contract [1] - The agreement includes Microsoft Office subscription services, Azure cloud services, Dynamics 365, and Sentinel security software, along with a free one-year subscription to the AI assistant Copilot for government employees [1] - The GSA manages $110 billion in goods and services spending annually for various federal agencies, with a significant portion allocated to information technology [1] Group 2 - Microsoft is among several large tech companies, including Salesforce, Adobe, Amazon, and Google, that have signed discount agreements with the GSA [2] - Salesforce is offering a temporary discount of up to 90% on Slack Enterprise Grid for federal agencies, while Adobe is providing a 70% discount on its "comprehensive paperless government solution" [2] - Google has reduced the price of its Workspace software by 71% for federal agencies, and Amazon Web Services (AWS) has agreed to provide up to $1 billion in savings for cloud services adoption and modernization by the end of 2028 [2]

该机构重申评级之际，投资者对亚马逊云服务AWS 2025 年下半年缺乏积极展望，这是因为预计产能问 题至少会持续到年底。AWS二季度营收增长略超17%，达309亿美元，仅略高于分析师平均预期的308亿 美元。然而，相比之下，在截至6月的三个月中，微软Azure营收增长39%，谷歌云营收增长32%。 智通财经APP获悉，Oppenheimer分析师Jason Helfstein将亚马逊(AMZN.US)目标价从 250 美元下调至 245 美元，但维持"跑赢大盘"的评级。 不过，亚马逊首席执行官重申，人工智能是"一生中最大的技术变革"。这一点已经显而易见，因为 AWS的人工智能业务收入仍在以三位数的年增长率持续增长，而且其在 AWS 内部的应用仍处于早期阶 段。尽管关税影响仍在，但该公司并未看到任何消费者需求疲软的情况。 ...