Microsoft’s fourth-quarter earnings for fiscal 2026 revealed key insights regarding its investments in two major AI labs: Anthropic and OpenAI.
In this quarter, Microsoft noted a substantial $3.2 billion gain from its $5 billion investment in Anthropic, which contributed 33 cents to its diluted earnings per share (EPS), resulting in an overall diluted EPS of $4.81 for the quarter. This investment was part of a strategic agreement where Anthropic committed to purchasing $30 billion worth of Azure services.
Conversely, Microsoft’s investment in OpenAI faced a downturn, resulting in a $600 million write-down. This affected diluted EPS by approximately 7 cents. Microsoft holds around 27% of OpenAI, but specific revenue-share payments from OpenAI are not disclosed. Despite this drop, Microsoft reported strong financial results, with $90 billion in revenue and a net income of $35.8 billion for the quarter.
On an annual scale, Microsoft’s OpenAI investment generated a $5 billion gain, adding $0.67 to EPS. However, the notable fact remains that the gain from Anthropic in just one quarter almost matched the yearly gain from OpenAI, prompting Microsoft to highlight this contrast in its earnings report.
