Custom chips (Trainium and Graviton)
Custom chips exceeded a $25B annual run rate in Q2 2026; about 1 GW of Trainium2/Trainium3 capacity is due online for Anthropic by end-2026.
The numbers
What it is
Amazon's custom AI training and inference chips (Trainium) and Arm-based CPUs (Graviton), sold mainly through AWS. Anthropic is the anchor customer, and the April 2026 agreement covers Trainium2 through Trainium4 and Graviton with up to 5 GW of capacity. Trainium3 UltraServers became generally available on December 2, 2025.
Why it matters to the stock. Custom silicon lowers AWS's dependence on Nvidia and supports AWS margins. Capacity coming online in late 2026 drives the AI capex trajectory and AWS growth.
News
Anthropic and Amazon agree on up to 5 GW of compute; Amazon invests $5B now
Anthropic and Amazon expanded their partnership to secure up to 5 gigawatts of capacity for training and running Claude, with nearly 1 GW of Trainium2 and Trainium3 capacity due by the end of 2026.