Alphabet, Amazon see higher profits from rising value of Anthropic stakes (GOOG:NASDAQ)

Robert Way

Both Alphabet (GOOG) (GOOGL) and Amazon.com (AMZN) last month reported stronger-than-expected third-quarter earnings, helped by surging valuations of their investments in Anthropic, the artificial intelligence startup behind the Claude chatbot.

Alphabet (GOOG) (GOOGL) said it recorded $10.7 billion