Google-parent Alphabet has agreed to invest up to $40 billion in Anthropic, deepening a partnership with the artificial intelligence startup that is also a rival in the global AI race. The deal is structured in two parts: an initial $10 billion cash investment at a $350 billion valuation, with an additional $30 billion contingent on Anthropic meeting performance milestones. The agreement was first reported by Bloomberg and confirmed by Anthropic on Friday, April 24, 2026.
Beyond the equity, Google Cloud will provide 5 gigawatts of computing capacity to Anthropic over the next five years, with the potential for several more gigawatts to follow. The arrangement gives Anthropic access to as many as one million seventh-generation Ironwood TPU chips and is designed to support a major expansion of its computing infrastructure. Anthropic already uses Google’s custom chips and cloud services to power its Claude family of models, and the deal adds to a long-standing alliance dating back to 2023 when Google first invested $300 million for about a 10% stake.
The investment comes amid explosive growth for Anthropic driven by Claude Code, an AI agent that speeds software development and has gained strong traction with developers. Annualized revenue hit $30 billion in April 2026, up from roughly $9 billion at the end of 2025, while more than 1,000 businesses now spend at least $1 million per year on the platform. Claude now holds 32% of the enterprise LLM API market, versus OpenAI’s 25%, and eight Fortune 10 companies are customers.
The Google deal follows Amazon’s commitment earlier the same week to invest up to $25 billion in Anthropic, comprising $5 billion now and $20 billion more if performance goals are met. Anthropic has pledged to spend more than $100 billion on Amazon Web Services technology over the next decade while also relying on Google’s infrastructure. The dual backing from the two largest cloud providers makes Anthropic the most sought-after AI company on Earth and underscores how tech giants are using compute commitments to lock in strategic relationships even as their own models, like Google’s Gemini, compete directly with Claude.
Google’s prior investment in Anthropic exceeded $3 billion, with a reported stake of around 14%. The latest $40 billion commitment is one of the largest private tech investments ever recorded and signals that Big Tech’s appetite for frontier AI capacity remains intense as training and inference costs escalate.
