SAN FRANCISCO: Alphabet’s Google will invest up to $40 billion in Anthropic, committing $10 billion in cash now at a $350 billion valuation and another $30 billion if the startup meets performance targets, according to terms Anthropic confirmed on April 24. The agreement deepens ties between Google and Anthropic at a time when the companies are both partners and competitors, with Anthropic selling Claude models through Google Cloud while Google continues to expand its Gemini family of AI products.
Anthropic said the new money will help fund a major expansion of computing capacity. On April 6, the company said it had signed a new agreement with Google and Broadcom for multiple gigawatts of next-generation TPU capacity expected to begin coming online in 2027, with most of the new compute sited in the United States. Anthropic said the pact builds on its existing Google Cloud relationship and on an earlier expansion of TPU capacity announced in 2025.
The investment comes as Anthropic scales quickly. The company said its annualized revenue run rate surpassed $30 billion in April, up from about $9 billion at the end of 2025, driven by growth in enterprise use of Claude and adoption of Claude Code by developers. In February, Anthropic said it raised $30 billion in Series G funding at a $380 billion post-money valuation, adding another large capital raise before the new Google commitment.
Google expands Anthropic investment and compute ties
Google’s commitment also follows another major Anthropic financing and infrastructure agreement announced on April 20. Amazon said it would invest $5 billion immediately and up to $20 billion more in Anthropic, while Anthropic said it would spend more than $100 billion on Amazon Web Services over the next decade. Anthropic said that agreement would secure up to 5 gigawatts of capacity for training and deploying Claude, including new Trainium capacity scheduled to come online this year.
The Google and Amazon agreements pair new capital with access to specialized computing infrastructure. Anthropic has said it trains and runs Claude across AWS Trainium, Google TPUs and Nvidia GPUs, while distributing its models through major cloud platforms. Google Cloud offers Anthropic’s Claude family through Vertex AI, and Google this month added support for Claude Opus 4.7, expanding the commercial ties between Google and Anthropic beyond the new investment.
Regulatory backdrop
Large AI partnerships have also drawn regulatory attention. The UK Competition and Markets Authority said in November 2024 that Alphabet’s partnership with Anthropic did not qualify for investigation under the country’s merger rules. In the United States, the Federal Trade Commission issued orders in early 2024 to examine AI partnerships and published a staff report in January 2025 covering arrangements involving Alphabet and Anthropic, as well as other cloud providers and model developers.
For Google, the Anthropic commitment adds another multibillion-dollar AI investment alongside its existing cloud and product spending. For Anthropic, it provides another major funding source as the company expands compute capacity, products and enterprise sales around Claude, after saying in November 2025 that it would invest $50 billion to build U.S. data centers. The latest agreement adds to the commercial ties that already connect Google and Anthropic through cloud infrastructure, model hosting and compute supply. – By Content Syndication Services.