Microsoft posts $3.2B gain from Anthropic stake, OpenAI investment down
The split shows how large AI bets can swing quarterly earnings and influence Microsoft’s strategy toward OpenAI and Anthropic, affecting its AI platform bets and shareholder returns.
At a glance
- Anthropic investment gain of $3.2 billion in the fiscal Q4 quarter, boosting diluted EPS by 0.33 and with the quarter’s EPS at $4.81
- OpenAI investment marked down by about $600 million in the same quarter, reducing diluted EPS by about 0.07
- For the full year, OpenAI investment generated a $5 billion gain and added about 0.67 to EPS
- Microsoft owns about 27% of OpenAI and invested $5 billion in Anthropic in November 2025 as part of a circular agreement under which Anthropic would buy $30 billion of Azure services
The story
Microsoft reported its fiscal fourth-quarter results, ending June 30, with revenue of about $90 billion and net income of roughly $35.8 billion for the quarter. In that period, the company disclosed a $3.2 billion gain from its investment in Anthropic, a gain that boosted diluted earnings per share by 33 cents. Microsoft’s quarter saw earnings per share of $4.81 as reported.