Google is putting $10 billion into Anthropic today—and has committed to investing up to $30 billion more, provided the AI startup clears certain performance hurdles. The deal, first reported by Bloomberg, pegs Anthropic’s valuation at $350 billion and is the latest sign that Big Tech’s appetite for frontier AI is nowhere close to slowing down. Beyond the cash, the agreement comes with serious computing muscle. Google Cloud will deliver 5 gigawatts of computing capacity to Anthropic over the next five years—with room to scale further. For context, one gigawatt alone can power roughly 750,000 American homes at any given time.
Claude Code turned Anthropic into a fundraising machine
The catalyst behind all this investor attention is fairly straightforward: Claude Code. Anthropic’s AI coding assistant has quietly become the default tool for engineers across Silicon Valley—including, reportedly, some who work at Google. That kind of adoption has had a dramatic effect on Anthropic’s numbers. Annual revenue has blown past $30 billion, up from around $9 billion at the end of 2025. The number of enterprise customers spending over $1 million a year with Anthropic has doubled in under two months, now topping 1,000.This Google deal lands just days after Amazon committed a separate $5 billion investment—also with up to $20 billion more on the table—tied to Anthropic spending $100 billion on AWS infrastructure over the next decade. A clear pattern is forming: Anthropic is trading long-term compute commitments for the capital it needs to keep up with runaway demand.
Google and Amazon are betting on Anthropic even as they compete against it
The deals are circular by design. Google and Amazon pour money into Anthropic; Anthropic turns around and buys chips and cloud capacity from Google and Amazon. Google’s TPUs—tensor processing units—rank among the few credible alternatives to Nvidia’s sought-after processors, making them a genuinely scarce resource for any serious AI lab.Anthropic is also said to be considering an IPO as early as October. Investors have recently pushed to back the company at valuations north of $800 billion—more than double what Friday’s deal implies. Whether that gap closes will depend on whether the Claude Code momentum holds.
