Amazon's Anthropic Security Scandal and $200 Billion AI Bet Overshadow Prime Day and Satellite Push
15.06.2026 - 14:26:16 | boerse-global.de
Amazon finds itself in an uncomfortable spotlight. On June 12, CEO Andy Jassy personally briefed US Treasury Secretary Scott Bessent and other senior officials about security flaws in Anthropic’s latest AI models — a company in which Amazon is the largest investor and whose cloud infrastructure AWS provides. Amazon’s own researchers had demonstrated that Anthropic’s Fable 5 model could be manipulated to yield actionable intelligence for cyberattacks. The US government responded swiftly, issuing an export control directive under national security powers. Unable to implement real-time nationality filtering, Anthropic took both Fable 5 and Mythos 5 — launched just three days earlier on June 9 — offline globally.
The episode underscores Amazon’s dual role as both Anthropic’s key backer and its security watchdog. While Amazon claims it routinely fields requests from governments for risk assessments, the intervention has raised eyebrows about its influence over AI regulation. The controversy comes at a delicate moment: Amazon is pouring record sums into artificial intelligence infrastructure, including its own Trainium2 chips that have already secured over $225 billion in revenue commitments, and a broader chip business — spanning Graviton, Trainium, and Nitro — heading toward an annual run rate above $20 billion.
AWS itself remains a bright spot. The cloud division generated $37.6 billion in revenue during the first quarter of 2026, a 28% year-on-year increase — its fastest growth in 15 quarters — while posting a record margin. But the broader picture is more strained. Amazon plans roughly $200 billion in capital expenditures this year, much of it directed at AI capacity. The result: free cash flow has collapsed 95% over the trailing twelve months to just $1.2 billion, a figure that has rattled investors. Operating profit for the current quarter is guided at up to $24 billion, boosted in part by a shift in Prime Day to June 23 — earlier than the traditional July slot — which allows the company to book billions in sales before the quarter ends. Advertising revenue, a key profit driver, jumped 24% in Q1 to $17.24 billion, and US Prime Day spending is forecast at nearly $15.7 billion.
Should investors sell immediately? Or is it worth buying Amazon?
Beyond e-commerce and cloud, Amazon is racing to deploy its Project Kuiper satellite network. The Federal Communications Commission recently granted a reprieve: Amazon no longer needs to launch the first tranche of 1,616 satellites by end of July. But the concession comes at a cost — the project loses priority in frequency rights until March 2028, or until half the network is operational. With only 331 Leo satellites currently in orbit, the next launch is scheduled for this Wednesday from Kourou, French Guiana, carrying 36 additional satellites. The success of that mission could provide a near-term catalyst for the stock.
On the analyst front, sentiment remains bullish despite the headwinds. A consensus of 35 analysts rates the shares a “Buy,” with an average price target of $312.86 and a high of $370. A separate poll of 41 analysts shows 46% recommending “Strong Buy” and 49% “Buy.” The stock, which traded at €209.80 earlier in the week, closed at €206.15 on Friday — down more than 9% over the past month and roughly 12% below its 52-week high from May. The relative strength index is now approaching oversold territory.
The next major test comes on July 30, when Amazon reports second-quarter earnings. Investors will scrutinize whether AWS’s growth trajectory can hold and whether the massive infrastructure outlay is starting to squeeze margins. For now, the Anthropic security debacle, the cash flow crunch, and the satellite stakes are all pulling in different directions — leaving Amazon’s stock caught between a high-growth narrative and mounting operational complexity.
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