Amazon’s stock surged nearly 14% last week, significantly outpacing the S&P 500, following the announcement of a two-week ceasefire between the U.S. and Iran. However, analyst Mark Mahaney from Evercore ISI attributes this impressive performance to a different catalyst: the artificial intelligence company Anthropic. Mahaney noted in a recent report that the potential of using Amazon’s Trainium chip to train Anthropic’s newly unveiled Mythos model is influencing investor sentiments.
Since the leaks surrounding Mythos on March 27, Amazon shares have jumped nearly 20%. Anthropic’s AI model has stirred the software market by showcasing its capability to uncover unknown bugs in cybersecurity systems, raising concerns among tech experts about its potential misuse in the hands of hackers or malicious actors.
While Anthropic has not officially confirmed that it used Amazon’s Trainium chips for Mythos, Kevin Rippey, Evercore’s analyst for technology, media, and telecommunications, suggested in his report that this collaboration is likely. “Of course, we knew (or at least didn’t debate much) that Opus, another Anthropic AI model, was trained on Trainium,” Rippey noted, adding that investors may have been caught off guard by the capabilities of Mythos developed on the previous generation of Trainium hardware.
In an interview with CNBC’s Kate Rooney, Amazon Web Services CEO Matt Garman acknowledged the significant role of Trainium chips in training Anthropic’s models, reiterating, “All their models that are out today are trained on Trainium.” Mahaney emphasized that the development of Mythos using Trainium is a strong endorsement of Amazon’s chip technology, suggesting that their performance is more formidable than investors had previously recognized.
“If Trainium 2 is powerful enough to help train Mythos, then Amazon’s Trainium offering may be much more robust than the market realized, in addition to having 30-40% better price performance than GPU-based instances,” he stated, contrasting it with graphics processing unit chips. This advancement in AI could parallel a pivotal moment for Amazon, akin to Alphabet’s experience last September when a favorable antitrust ruling shifted investor perceptions, leading to a substantial 60% rise in Alphabet’s stock over the following months.
Mahaney reiterated Evercore’s “outperform” rating for Amazon, setting a 12-month price target of $285, which is nearly 20% above Friday’s closing price. With growth in its retail and advertising sectors in addition to its advancements in AI, Amazon appears poised for continued success in an evolving tech landscape.
As the influence of AI technologies expands, the market’s perception of companies harnessing powerful tools like Trainium will likely shape investment strategies and stock performance in the coming months. Given the current trends, investor attention on AI capabilities and partnerships will remain critical in forecasting the future of giants like Amazon.
Original Source: https://www.cnbc.com/2026/04/13/amazon-shares-have-been-on-fire-lately-now-we-know-why.html
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Publish Date: 2026-04-13 20:22:00
