TechCrunch, citing Bloomberg, reports that Google plans to invest up to $40 billion in Anthropic and significantly expand its compute supply to the AI company. The structure, according to Anthropic, is $10 billion now at a $350 billion valuation, with another $30 billion contingent on Anthropic hitting certain performance targets.
Alongside the financial commitment, Google Cloud is providing a fresh 5 gigawatts of compute capacity over the next five years, with room to scale further.
Anthropic’s infrastructure situation
The investment arrives as Anthropic works through several capacity constraints. The company has faced widespread complaints about Claude use limits in recent weeks. In response, it has moved quickly on infrastructure: earlier this month Anthropic struck a deal with cloud computing provider CoreWeave for data center capacity, and this week it secured an additional $5 billion investment from Amazon as part of a broad agreement under which Anthropic is expected to spend up to $100 billion for around 5 gigawatts of compute capacity over time.
TechCrunch also reports that Anthropic’s most recent model, Mythos, was released to a limited group of partners this month. According to the report, Mythos is described by Anthropic as its most powerful model to date and has significant cybersecurity applications; due to potential misuse, Anthropic has restricted broader access while working with select organizations to evaluate the risks. The report states that the model has already fallen into unsanctioned hands and is likely expensive to run at scale. The TechCrunch report includes Anthropic’s stated rationale for restricting access; 4o4 / AI did not seek separate comment from the company.
Google’s dual role
The relationship between Google and Anthropic is structurally unusual: Google is both a direct competitor in AI models and Anthropic’s key infrastructure supplier. Anthropic relies heavily on Google Cloud for chips and infrastructure, including access to Google’s tensor processing units (TPUs), which TechCrunch describes as “among the best alternatives to Nvidia’s in-demand processors.”
Earlier this month, Anthropic announced a partnership with Google and chipmaker Broadcom — which designs custom AI chips for Google — to access multiple gigawatts of TPU-based computing capacity beginning in 2027. A subsequent Broadcom securities filing put that figure at 3.5 gigawatts. The new Google investment expands that arrangement with the additional 5 gigawatts from Google Cloud.
Valuation and IPO context
Anthropic’s valuation stood at $350 billion as recently as February. According to TechCrunch, citing Bloomberg, investors have since sought to back the company at $800 billion or more. The company is also reportedly considering an IPO as soon as October.