#Google Commits Up to $40 Billion in Anthropic as Tech Giants Race to Lock In AI Infrastructure

Google parent Alphabet will invest up to $40 billion in Anthropic, the company confirmed on Friday. Google is committing $10 billion now in cash at a valuation of $350 billion, with an additional $30 billion contingent on Anthropic meeting performance targets as reported by Bloomberg.

The Deal Structure

The investment is structured in two parts:

• $10 billion committed immediately in cash at a $350 billion valuation
• $30 billion to follow if Anthropic meets specific performance milestones

Alongside the cash investment, Google is committing to support a significant expansion of Anthropic's computing capacity, including 5 gigawatts of compute from Google as part of this deal. On April 6, Anthropic signed a separate agreement with Google and Broadcom for multiple gigawatts of TPU chip capacity expected to come online in 2027.

Anthropic has also signed a multi-year deal with cloud infrastructure firm CoreWeave and is set to secure nearly 1 gigawatt of capacity via Amazon's chips by year-end.

Coming Days After Amazon's Own Major Bet

The Google commitment comes just days after Amazon announced a fresh $5 billion investment in Anthropic, with the option for up to $20 billion more tied to commercial milestones. As part of a broader compute agreement, Anthropic is expected to spend up to $100 billion for around 5 gigawatts of capacity from Amazon over time.

Amazon has invested a total of $8 billion in Anthropic to date. In February, Anthropic raised $30 billion in a funding round that valued it at $380 billion post-money, as covered in our earlier report on the Anthropic Series G funding round.

Why Anthropic Needs the Capital

Strong demand for its Claude family of AI models has pushed Anthropic to secure major infrastructure deals across the board:

• Annualized revenue surpassed $30 billion this month, up from $9 billion at the end of 2025
• Claude Code has gained strong traction among developers and crossed $2.5 billion in annualized revenue by February 2026
• Earlier this year, a series of plugin releases for Anthropic's Cowork agent triggered a sharp selloff in global software stocks
• Last year, Anthropic committed to investing $50 billion to build data centers in the U.S. to secure infrastructure for deploying and training its models
• Venture capital firms have submitted offers valuing Anthropic at as much as $800 billion, with a potential IPO as early as October 2026 per TechCrunch

The $40 billion potential outlay from Google represents roughly one-third of Alphabet's annual operating cash flow, according to TheStreet.

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