As Amazon (AMZN) continues its heavy artificial intelligence push by deepening its ties with AI company Anthropic, Wall Street is bullish. Amazon’s latest stock forecasts draw strength from AWS momentum, AI chip revenue, and a rapidly expanding advertising business. At press time, AMZN sits at $250, up nearly 22% in the last 30 days.

Amazon and Anthropic have worked together since 2023, launching Project Rainier and expanding Claude as a top AI tool. This week, the latter announced it is committing more than $100 billion over the next ten years to Amazon’s AWS technologies, securing up to 5GW of new capacity to train and run Claude. “Our custom AI silicon offers high performance at significantly lower cost for customers, which is why it’s in such hot demand,” said Andy Jassy, CEO of Amazon. “Anthropic’s commitment to run its large language models on AWS Trainium for the next decade reflects the progress we’ve made together on custom silicon, as we continue delivering the technology and infrastructure our customers need to build with generative AI.”

The deal has fueled Amazon (AMZN) stock a percent higher so far this week. Wall Street is banking on a big boost in AWS’s growth rate in the coming quarters, as several firms are insisting before earnings. “We are incrementally positive on our AWS revenue projections, whereby we project AWS revenue growth of +37% year over year in 2027, which includes a conservative projection of $31 billion in Anthropic revenue, particularly given Anthropic’s $30 billion annual revenue rate as of late March and its 100,000 plus customers building with Claude on AWS,” Citi analyst Ron Josey wrote in a note.

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The tone is similar at KeyBanc Investments. “We believe AWS [Amazon Web Services] is benefiting from a combination of capacity gains, AI diffusion, and client expansion,” KeyBanc analyst Justin Patterson wrote in a note on Monday. “Anthropic has been a long-standing AWS customer, and its rapid growth in annual recurring revenue (from $9 billion in December 2025 to $30 billion in early April 2026) provides a meaningful tailwind to AWS growth (we assume AWS is about 60% of Anthropic spend).”

Analysts generally see potential for Amazon’s stock to rise post earnings, with several setting targets above the current $250 price. Wedbush and TD Cowen have a $300 target, suggesting strong upside potential.