Google has committed to invest as much as $40 billion in Anthropic, the companies said on Friday, as the artificial intelligence start-up accelerates its business behind the explosive growth of its software programming product, Claude Code.
The deal is the latest in a series of huge investments that tech giants have made in the top A.I. start-ups, OpenAI and Anthropic. Last week, Amazon agreed to invest as much as $25 billion in Anthropic.
Google will invest $10 billion in cash now at a $350 billion valuation, which is the same value Anthropic had in February. The other $30 billion in cash will be invested when Anthropic meets certain milestones.
Google and Anthropic confirmed the investment commitment but declined to comment further.
Google and Amazon began backing Anthropic in its infancy and have become two of its largest, minority investors. Anthropic relies on Google and Amazon for the cloud computing it needs to build and run its Claude chatbot and coding systems. The start-up has also become one of the largest users of the tech giants’ custom A.I. chips: Google’s tensor processing units, or TPUs, and Amazon’s Trainium.
The agreements between Anthropic and the tech giants are examples of how circular deals have become critical to the A.I. boom that is driving the U.S. economy. Google, Amazon, Microsoft and Nvidia have invested huge sums into Anthropic and OpenAI. In exchange, those start-ups buy chips and computing power from those investors.
Under the latest investment, Google will provide Anthropic with five gigawatts of computing power starting in 2027, which is enough electricity to power all the homes in Minnesota. It could provide more computing power if that was needed.
The computing commitment could help Anthropic as it tries to build out the infrastructure it needs to meet the surging demand for its Claude Code. Companies are signing up to use Anthropic’s coding and business tools to develop programs and applications. Its adoption has rocked longstanding software companies.
This month, Anthropic said its annual revenue run rate surpassed $30 billion, up from $9 billion at the end of 2025.
(The New York Times has sued OpenAI and its partner, Microsoft, claiming copyright infringement of news content related to A.I. systems. The two companies have denied the suit’s claims.)
Google has its own competing A.I. products. Gemini, its A.I. system, powers Google Search and a separate chatbot and research system that subscribers pay to use.
But the Anthropic investments have helped Google secure demand for its growing cloud computing business. Last year, Google Cloud sales grew 36 percent, to $58.7 billion.
