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    How Investors Are Reacting To Zoom (ZM) Spotlighting Its Anthropic Stake In AI-First Strategy

    Simply Wall St·08/25/2026 18:26:01
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    • Earlier this week, Zoom Communications (NASDAQ: ZM) reported quarterly results, with attention centering on its earnings performance and commentary around AI initiatives.
    • A particular focus was Zoom’s US$51 million stake in AI firm Anthropic, which analysts suggest could materially influence how investors view the company’s long-term value drivers.
    • Next, we’ll examine how Zoom’s Anthropic investment interacts with its AI-first platform ambitions and what this means for the existing investment narrative.

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    Zoom Communications Investment Narrative Recap

    To own Zoom today, you need to believe it can evolve from a single-purpose video tool into a broader, AI-first collaboration platform while defending its core against large bundled competitors. The Anthropic stake has sharpened attention on AI as a potential value driver, but on its own it does not clearly change the key near term catalyst, which remains monetizing AI features, or the biggest risk, that customers stick with cheaper or more integrated suites.

    Among recent updates, the launch of ZoomMate, an agentic AI work surface priced at US$20 per user per month in North America, is especially relevant. It shows how Zoom is trying to turn its AI capabilities and Anthropic partnership into paid, workflow-centric products that could support ARPU and differentiate the platform, even as competition intensifies and enterprises weigh vendor consolidation and budget pressures.

    Yet, beneath the excitement around AI, there is a less obvious risk investors should be aware of if pricing pressure accelerates and...

    Read the full narrative on Zoom Communications (it's free!)

    Zoom Communications' narrative projects $5.5 billion revenue and $1.4 billion earnings by 2029. This requires 4.0% yearly revenue growth and a $0.7 billion earnings decrease from $2.1 billion today.

    Uncover how Zoom Communications' forecasts yield a $115.00 fair value, a 10% upside to its current price.

    Exploring Other Perspectives

    ZM 1-Year Stock Price Chart
    ZM 1-Year Stock Price Chart

    Some of the lowest ranked analysts were already expecting earnings to fall to about US$1.1 billion by 2029, even as they assumed revenue near US$5.5 billion. Compared with the more balanced view that AI adoption could offset competition, this is a much more pessimistic stance, and the Anthropic news could meaningfully shift how you weigh these very different stories.

    Explore 5 other fair value estimates on Zoom Communications - why the stock might be worth as much as 29% more than the current price!

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.