Google Pours $40B into Anthropic, DeepSeek V4 Undercuts the Frontier

Google committed up to $40 billion to Anthropic on Thursday, $10 billion deployed immediately and $30 billion more tied to performance and commercial milestones. The round values Anthropic at $350 billion as of its February 2026 mark, with secondary interest reportedly chasing an $800 billion-plus valuation ahead of a possible October IPO.

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Alongside the cash, Google Cloud will deliver 5 gigawatts of TPU capacity to Anthropic over the next five years, layered on top of an early-April Broadcom deal that brings 3.5 gigawatts of TPU capacity online starting in 2027. The Google announcement landed four days after Amazon committed up to $25 billion more (with $5 billion immediate at a $380 billion valuation), in exchange for Anthropic pledging $100 billion-plus in AWS spend over a decade and roughly 1 gigawatt of Trainium2 and Trainium3 capacity by year-end. Combined with prior Amazon money and existing Google exposure, Anthropic now has roughly $65 billion of fresh hyperscaler capital authorized in a single week. Dario Amodei framed the spend simply: "Our users tell us Claude is increasingly essential to how they work, and we need to build the infrastructure to keep pace with rapidly growing demand."

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