Anchor Text is the part of a link that is clickable by a website visitor.
Google takes a lot of meaning from anchor text for the site linking out and the website being linked to.
They actually take less meaning than they used to…
…or, more precisely, the way they take the meaning is more nuanced.
Way back in 2011 before Google’s Panda and Penguin penalty and filter algorithms, you could get tons of links with the exact anchor text you wanted to rank for and your rankings would skyrocket for those and related keywords.
Nowadays, anchor text is still important, but I would say it is less important because they consider many more properties of a link and your website’s link profile.