Google commits $40B to Anthropic

Alphabet said on April 24 it will invest up to $40 billion in Anthropic, deepening Google's ties with an artificial intelligence company that also competes with Gemini. (reuters.com) (cnbc.com) Anthropic said Google is committing $10 billion now in cash, with another $30 billion tied to performance targets. Reuters reported the initial tranche values Anthropic at $350 billion, while CNBC said the deal was struck at Anthropic's latest $380 billion valuation. (reuters.com) (cnbc.com) (bloomberg.com) The money lands after Anthropic signed a separate April 6 agreement with Google and Broadcom for multiple gigawatts of next-generation tensor processing unit capacity starting in 2027. Anthropic called it its biggest compute commitment to date. (anthropic.com) (datacenterknowledge.com) Tensor processing units are Google's in-house artificial intelligence chips, built to train and run models like Claude at scale. Anthropic said most of the new capacity will be built in the United States. (datacenterknowledge.com) (anthropic.com) Anthropic's financing is now being shaped as much by access to electricity and chips as by cash. Reuters said Amazon disclosed days earlier that it would invest up to $25 billion in the startup, while staying Anthropic's primary cloud and training partner. (reuters.com) (anthropic.com) (cnbc.com) That leaves Anthropic in an unusual position: it sells Claude through Amazon Web Services, Google Cloud and Microsoft Azure, while taking strategic money and hardware from companies building rival models. Anthropic said Claude is the only frontier model offered on all three major cloud platforms. (anthropic.com) (cnbc.com) The demand picture helps explain the scale. Anthropic said its annualized revenue run rate topped $30 billion this month, up from about $9 billion at the end of 2025, and more than 1,000 business customers are now spending over $1 million a year. (anthropic.com) (reuters.com) Google had already invested more than $3 billion in Anthropic before this deal, CNBC reported, after earlier investments in 2023. Court disclosures cited by industry reports had put Google's stake at about 14%. (cnbc.com) (datacenterdynamics.com) The immediate question is not whether Anthropic can raise money. It is whether Google, Amazon and Broadcom can deliver enough power, data center space and chips fast enough to keep Claude supplied. (reuters.com) (anthropic.com)