Google backs Anthropic with $40B

Google said Friday it will invest up to $40 billion in Anthropic, expanding a partnership that now spans both capital and cloud compute. (cnbc.com) The structure starts with $10 billion at Anthropic’s latest $380 billion valuation, with another $30 billion contingent on performance milestones, CNBC reported. Anthropic confirmed the companies were broadening a longstanding relationship. (cnbc.com) Earlier, on April 6, Anthropic said it had signed a new agreement with Google and Broadcom for multiple gigawatts of next-generation Tensor Processing Unit capacity starting in 2027. Anthropic said the systems will power its frontier Claude models. (anthropic.com) That April 6 announcement did not disclose a dollar figure for the compute deal. Anthropic called it its “most significant compute commitment to date” and said most of the new capacity will be located in the United States. (anthropic.com) The financing and the chip deal land as Anthropic’s demand has surged. The company said its run-rate revenue has surpassed $30 billion, up from about $9 billion at the end of 2025, and more than 1,000 business customers now spend over $1 million a year on an annualized basis. (anthropic.com) Anthropic had already been scaling on Google’s infrastructure before this week. In October 2025, it said it planned to expand its use of Google Cloud technologies, including up to one million Tensor Processing Units, in a deal it said was worth tens of billions of dollars. (anthropic.com) At the same time, Anthropic has kept a multi-cloud posture. The company said Amazon Web Services remains its primary cloud provider and training partner, even as Claude is also sold through Google Cloud and Microsoft Azure. (anthropic.com) Google and Anthropic are partners and competitors at once. Google sells Anthropic’s Claude models through Google Cloud, while Google’s own Gemini models compete directly with Claude in enterprise and developer markets. (cnbc.com) The relationship dates back to 2023, when Google invested $300 million in Anthropic, followed by another $2 billion later that year, according to CNBC. Before Friday’s announcement, Google’s investment in Anthropic had already exceeded $3 billion. (cnbc.com) Anthropic’s own financing has also accelerated this year. On February 12, it said it raised $30 billion in Series G funding at a $380 billion post-money valuation to fund research, products, and infrastructure expansion. (anthropic.com) The result is a tighter link between money and machines. Google is not just backing Anthropic with cash; it is also supplying the specialized chips Anthropic needs to train and run Claude at much larger scale. (cnbc.com)