Big Money Chasing Anthropic

Google and Anthropic said Friday that Google will invest $10 billion now and up to $40 billion total in the Claude maker. (cnbc.com) The remaining $30 billion depends on performance milestones, and the deal uses Anthropic’s latest $380 billion valuation from its February Series G round. (cnbc.com) (anthropic.com) That announcement landed four days after Amazon said it would invest $5 billion immediately and up to $25 billion total in Anthropic. Anthropic, in return, agreed to spend more than $100 billion on Amazon Web Services over 10 years. (anthropic.com) (usnews.com) Both deals are really about compute, the chips and data-center power needed to train and run large AI models. Anthropic said its Amazon agreement secures up to 5 gigawatts of capacity for Claude, including new Trainium2 and Trainium3 capacity coming online in 2026. (anthropic.com) Google’s side of the relationship also centers on infrastructure. Anthropic said earlier this month that it secured 5 gigawatts of computing capacity through Google and Broadcom, with capacity starting to come online next year. (cnbc.com) Anthropic is not a small startup raising bridge money. The company said on February 12 that it had raised $30 billion, was valued at $380 billion, and was running at $14 billion in annualized revenue. (anthropic.com) Anthropic also said more than 500 customers now spend over $1 million a year on an annualized basis, and eight of the Fortune 10 use Claude. Claude Code alone was running at more than $2.5 billion in revenue, according to the company. (anthropic.com) That scale helps explain why rivals are acting like partners. Google sells Gemini against Claude, but also offers Claude through Google Cloud and backs Anthropic with capital and tensor processing units, or TPUs, Google’s in-house AI chips. (cnbc.com) Amazon has a similar split role. Its own Nova models compete for attention, but Amazon is using Anthropic to fill Bedrock, push Trainium adoption, and lock in one of the biggest cloud customers in artificial intelligence. (usnews.com) (anthropic.com) Anthropic said Claude remains available on Amazon Web Services, Google Cloud, and Microsoft Azure. In this market, the model is only part of the sale; the harder asset to secure is the electricity, silicon, and server space behind it. (anthropic.com)