Microsoft logs $3.2B Anthropic gain, $600M OpenAI write-down

Microsoft recorded a $3.2 billion gain on its investment in artificial intelligence start-up Anthropic in the quarter ended June 30, 2026, nearly matching the $5 billion gain its OpenAI stake generated over the entire fiscal year, the company said on July 29, 2026.

The gain added 33 cents to diluted earnings per share, contributing to quarterly EPS of $4.81. Microsoft invested $5 billion in Anthropic in November 2025 as part of a deal in which the AI lab agreed to buy $30 billion in Azure cloud services.

Microsoft’s OpenAI investment, by contrast, was marked down by about $600 million in the same quarter, shaving roughly 7 cents per share from earnings. Microsoft owns approximately 27% of OpenAI and receives revenue-share payments, though it does not disclose the amount.

The write-down had little impact on overall results. Microsoft reported quarterly revenue of $90 billion and net income of $35.8 billion. For the full fiscal year, revenue reached $331.8 billion and net income $133.7 billion.

Over the full year, the OpenAI investment generated a $5 billion gain and added 67 cents to EPS. Annual diluted EPS was $17.95.