Microsoft Gains $3.2B From Anthropic as OpenAI Holdings Dip

The windfall from Anthropic, where Microsoft invested $5 billion in November 2025, added 33 cents to the company’s diluted earnings per share. This gain stems from a complex agreement that includes a $30 billion commitment from the AI lab to purchase Azure services. While Microsoft does not typically revalue its Anthropic stake every quarter, the scale of this result necessitated specific disclosure.

Conversely, the 27% stake in OpenAI proved a drag on quarterly results, trimming 7 cents from diluted EPS. Despite this short-term volatility, the OpenAI investment remains a net positive over the fiscal year, contributing a $5 billion gain and adding 67 cents to annual EPS. These fluctuations occurred against a backdrop of massive financial growth, with Microsoft reporting $90 billion in quarterly revenue and a total annual net income of $133.7 billion.