San Francisco, April 24, 2026, 14:06 PDT
Google has committed as much as $40 billion to Anthropic, backing the Claude AI maker even as it squares off with Google in the AI race. The agreement lands $10 billion in cash immediately, valuing Anthropic at $350 billion, plus up to $30 billion extra if key milestones are met.
Timing is crucial here, with the AI battle boiling down to a scramble for compute—chips, power, and data-center capacity to train models and serve users. Anthropic’s annual run-rate revenue just cleared $30 billion this month, a sharp climb from roughly $9 billion at 2025’s close.
Google and Anthropic have landed a data-center capacity agreement that The Financial Times says could come to $200 billion over five years, bringing 5 gigawatts online starting next year. That’s a scale on par with a full power plant—so AI dollars are now chasing electricity, acreage, and big-ticket infrastructure.
Google further cements its grip on a key cloud chip client. Anthropic, just earlier this month, announced plans to ramp up its reliance on Google Cloud and TPUs—those are Google’s proprietary AI processors. The company expects several gigawatts of capacity to go live beginning in 2027.
Anthropic CFO Krishna Rao described the Google-Broadcom deal as the company’s “most significant compute commitment to date.” The company also reported that, in under two months, the number of customers spending over $1 million a year on Claude jumped to more than 1,000. Anthropic
Just days after Amazon’s fresh bet on Anthropic, the tech giant announced plans to pour as much as $25 billion into the AI startup. Anthropic, in turn, has committed to over $100 billion in spending across 10 years—most of that earmarked for Amazon’s cloud services and the company’s Trainium AI chips.
Amazon chief Andy Jassy pointed to Anthropic’s adoption of Trainium as evidence of “progress we’ve made together on custom silicon.” Dario Amodei, CEO at Anthropic, said the company was ramping up its infrastructure needs as Claude plays a bigger role for customers. Anthropic
The rivalry isn’t a straight line. Google is pouring support into a model developer that boosts demand for its cloud, yet Claude finds itself going up against Google’s own Gemini suite—most notably in code generation, a space where 9to5Google says Google’s still playing catchup.
Alphabet climbed 1.6% to $344.40, based on the most recent Friday figures. Amazon tacked on 3.5%. Broadcom advanced 0.7%.
In February, Anthropic secured $30 billion in fresh capital, valuing the artificial intelligence startup at $380 billion post-money. GIC and Coatue took the lead on the round. The company said at the time the funds would go toward research, building out products, and scaling its infrastructure.
Execution remains the wild card. That next $30 billion from Google isn’t locked in, and Anthropic hasn’t disclosed specifics on the performance goals. Faltering demand, delays in power projects, or slower-than-expected capacity buildout—any could leave Anthropic with infrastructure obligations outpacing its revenue growth.
Google’s putting money on the table here, and it’s not just about the potential returns—it’s about securing supply chain advantages too. Anthropic, for its part, gains breathing space in a race where access to chips and computing muscle could matter as much as the strength of the underlying models.
