06:08 AM EDT, 07/10/2025 (MT Newswires) -- Amazon ( AMZN ) is in talks to increase its investment in Anthropic to deepen its AI partnership, the Financial Times reported Thursday, citing multiple people with knowledge of the talks.

Amazon's ( AMZN ) investment, made through convertible notes, reportedly values Anthropic at $61.5 billion and is capped to prevent either party from gaining voting or board rights.

The additional funding would build on Amazon's ( AMZN ) existing $8 billion commitment, ahead of Google (GOOG, GOOGL), which holds a roughly 14% stake, according to the Financial Times.

The companies are working closely on Project Rainier, a data center initiative in Indiana set to draw 2.2 gigawatts to support Anthropic's computing needs, the report said.

Anthropic helped develop Amazon's ( AMZN ) Trainium2 chips and supplies AI tools for Amazon Web Services clients, the media outlet reported.

Amazon ( AMZN ) and Anthropic did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)