Alphabet, the parent company of Google, will invest up to $40 billion in Anthropic, the AI startup said last week, deepening a partnership between two players that compete in the global AI race.
Google has committed $10 billion in cash at a valuation of $350 billion, with an additional $30 billion to follow if Anthropic meets certain performance targets, according to a Reuters report on the matter. The announcement comes just days after Amazon said it would invest up to $25 billion in the same company.
Anthropic has carved out a position in the crowded AI market by focusing its model training on coding. Its Claude Code tool has gained strong traction among developers, helping push the company’s annual run-rate revenue past $30 billion this month, up from roughly $9 billion at the end of 2025.
The startup raised $30 billion in February at a post-money valuation of $380 billion, and media reports have since cited offers from venture capital firms valuing it as high as $800 billion.
To support growing demand for its Claude family of models, Anthropic has struck several large computing deals recently. Earlier this month, it signed multi-year agreements with chipmaker Broadcom and cloud infrastructure firm CoreWeave. By the end of the year, it is also set to secure nearly one gigawatt of capacity through Amazon’s chips. Last year, the company announced plans to invest $50 billion in building US data centres.
Anthropic’s rise has rattled broader markets. A series of plugin releases earlier this year for its Cowork agent helped trigger a sharp selloff in global software stocks as investors weighed the disruptive potential of advanced AI tools.