Google Invests Up to $40 Billion in Anthropic, $10 Billion Upfront at $350 Billion Valuation

On April 25, according to monitoring by Beating, Google has reached a new investment agreement with Anthropic: an immediate cash injection of $10 billion at a pre-money valuation of $350 billion (consistent with Anthropic’s financing in February this year); an additional $30 billion will be provided once Anthropic meets specific performance milestones, although Anthropic has not disclosed the exact triggering conditions. Google also committed to providing an additional 5GW of data center capacity to Anthropic through Google Cloud over the next five years. Since 2022, Google has invested approximately $3.3 billion in Anthropic, with this $10 billion upfront being the largest single investment to date. This deal follows Anthropic’s agreement with Amazon earlier this week, where Amazon pledged to invest $5 billion, with an additional $20 billion to follow, while Anthropic committed to purchasing over $100 billion worth of chips and computing power from Amazon. Both major cloud providers are heavily investing in Anthropic, while Google is also advancing its own Gemini model line, which directly competes with Anthropic. Anthropic’s annualized revenue has surged from $9 billion at the end of last year to over $30 billion. In February, Anthropic completed a $30 billion financing round at a post-money valuation of $380 billion, led by Singapore’s sovereign fund GIC and Coatue, with participation from Microsoft and Nvidia. In mid-April, several VCs attempted to invest at a valuation exceeding $800 billion, but Anthropic rejected the new financing round. Google’s entry at a $350 billion valuation is more aligned with a strategic pricing model based on computing power in exchange for equity. Anthropic is considering an IPO as early as October.