Microsoft logs $3.2B from Anthropic investment, but OpenAI was a mixed bag

In Brief

When Microsoft reported slayer fourth-quarter earnings for its fiscal 2026 twelvemonth (which ended June 30), it tucked successful an absorbing small tidbit astir however its investments successful the 2 biggest, and competing, AI labs are doing.

For the quarter, it recorded its concern successful Anthropic as a $3.2 cardinal gain, boosting diluted net [er stock by 33 cents. (Microsoft reported diluted net per stock of $4.81 for the quarter). Microsoft invested $5 cardinal successful Anthropic in November 2025 arsenic portion of a circular statement nether which the AI laboratory besides agreed to bargain $30 cardinal worthy of Azure services.

Microsoft does not routinely update the worth of its Anthropic concern each quarter. It does, however, sermon its OpenAI concern quarterly. Microsoft said concern did not fare astir arsenic good successful the quarter, and marked it down about $600 million, reducing diluted EPS by astir 7 cents per share.

Microsoft owns about 27% of OpenAI. And portion Microsoft besides receives revenue-share payments, it doesn’t study however overmuch OpenAI pays nether that arrangement. Instead, Microsoft accounts for the worth of its investment. While this 4th brought a beauteous sizable diminution successful the worth of that investment, the $600 cardinal write-down was inactive mostly a rounding mistake for Microsoft. The institution delivered a highly profitable quarter, reporting $90 cardinal of gross and nett income of $35.8 cardinal for the quarter. Microsoft’s gross was $331.8 billion with a nett income of $133.7 cardinal for the year.

Microsoft’s OpenAI concern looks overmuch amended erstwhile viewed connected a full-year basis.

For the year, Microsoft’s OpenAI concern generated a $5 cardinal summation and added $0.67 connected EPS, respectively, the institution reported. (Microsoft reported $17.95 EPS for its fiscal year.) Still, it is noteworthy that Microsoft reported astir arsenic overmuch of a summation connected Anthropic successful 1 4th arsenic it did for the twelvemonth connected OpenAI for the full year. In fact, it is truthful noteworthy that Microsoft disclosed it.

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