Google Pours Up to $40 Billion Into Anthropic as Amazon and Alphabet Race to Dominate AI Infrastructure

Google plans to invest up to $40 billion in Anthropic as tech giants ramp up their strategic investments in the leaders in artificial intelligence. The deal is massive. Alphabet is committing $10 billion now, at a $350 billion valuation for Anthropic, with another $30 billion to follow if Anthropic hits certain performance targets. It's not just cash — the agreement also gives Anthropic access to a much larger pool of Google Cloud infrastructure, with Google Cloud providing 5 gigawatts of computing capacity over the next five years. The deal mirrors a similar agreement Anthropic struck with Amazon just weeks earlier — $5 billion upfront and up to $20 billion more tied to commercial milestones — making clear that both cloud giants are racing to lock up access to Anthropic's technology. Meanwhile, Anthropic's annualized revenue has soared from $1 billion at the end of 2024 to $9 billion at the end of 2025, to a stunning $30 billion as of early April 2026. The company is also reportedly considering an IPO as soon as October.