Google to invest up to $40B (cash + cloud compute) in Anthropic
- Google said Friday, April 24, it will invest up to $40 billion in Anthropic, starting with $10 billion now and another $30 billion tied to performance targets. - Anthropic said the new deal will fund a major compute expansion after it announced 5 gigawatts of capacity with Google and Broadcom and a revenue run rate above $30 billion. - The pact deepens a partner-rival relationship as Google sells Anthropic cloud capacity while pushing Gemini against Claude in the same market. (cnbc.com)
Google said Friday it will invest up to $40 billion in Anthropic, the maker of Claude. (cnbc.com) (usnews.com) The deal starts with $10 billion in cash now. Another $30 billion is contingent on Anthropic hitting performance milestones, the companies said April 24. (cnbc.com) (nytimes.com) CNBC reported the initial investment is being made at Anthropic’s latest valuation of $380 billion. Bloomberg reported the initial $10 billion was priced at a $350 billion valuation, excluding newer money. (cnbc.com) (bloomberg.com) Anthropic said earlier in April that it had secured 5 gigawatts of computing capacity with Google and Broadcom, with that capacity set to start coming online next year. (cnbc.com 1) (cnbc.com 2) That matters because frontier artificial intelligence companies are buying not just cash but electricity, chips, and cloud access. Anthropic said this month that demand had pushed its annualized revenue above $30 billion, up from about $9 billion at the end of 2025. (cnbc.com) (bloomberg.com) Anthropic also said it now has more than 1,000 business customers spending over $1 million a year, more than double the count it reported in February. (cnbc.com) (bloomberg.com) Google and Anthropic are partners and competitors at the same time. Google sells Claude through Google Cloud and offers tensor processing units, or TPUs, while Google’s own Gemini models compete directly with Claude. (cnbc.com) The relationship started in 2023, when Google invested $300 million for about a 10% stake in Anthropic. Months later, Google added another $2 billion, and CNBC said its investment before Friday’s announcement had already exceeded $3 billion. (cnbc.com) Amazon has been building a similar arrangement with Anthropic. CNBC reported this week that Amazon invested $5 billion and agreed to invest up to $20 billion more if Anthropic meets commercial milestones. (cnbc.com) The result is that Anthropic is locking in capital and infrastructure from two of the biggest cloud companies while selling models into the same enterprise market they are trying to win. (cnbc.com) (nytimes.com)
