Google plans a major new commitment to Anthropic, with reports saying the company could invest as much as $40 billion in cash and computing resources. The move highlights how access to infrastructure is becoming just as important as model development in the global AI race.

According to Bloomberg, Google is committing $10 billion immediately at a $350 billion valuation for Anthropic, with another $30 billion expected if certain performance targets are achieved.

Google to invest up to $40B in Anthropic as AI competition intensifies

The reported investment comes shortly after Anthropic introduced its newest model, Mythos, to a limited group of partners this month. Anthropic described Mythos as its most powerful model so far and said it has major cybersecurity applications.

However, the company has limited wider access because of potential misuse risks. Anthropic said it is working with select organizations to test the system and address those concerns. The model has also reportedly already reached unauthorized users.

Running advanced AI systems at scale can be expensive, and that is where infrastructure support becomes critical.

Compute power is now central to the AI race

The latest development shows how competition in artificial intelligence is increasingly being shaped by access to computing power needed to train and deploy advanced systems.

OpenAI has already moved aggressively to secure that capacity through large-scale agreements involving cloud providers, chip suppliers, and energy partners. That includes an expanded agreement this month with chipmaker Cerebras.

Anthropic has also been making moves to strengthen its infrastructure position.

Anthropic expands infrastructure deals with major partners

In recent weeks, Anthropic has faced complaints over Claude usage limits and has responded with multiple infrastructure agreements.

Earlier this month, the company reached a deal with CoreWeave for data center capacity. It also secured an additional $5 billion investment from Amazon as part of a broader arrangement under which Anthropic is expected to spend up to $100 billion over time for around 5 gigawatts of compute capacity.

Even though Google competes directly in AI models, it also plays a major role as an infrastructure provider to Anthropic.

Anthropic relies heavily on Google Cloud for chips and systems, including access to Google’s tensor processing units, or TPUs. These specialized AI chips are considered a strong alternative to Nvidia’s high-demand processors.

Existing Google ties grow stronger

The relationship between the two companies was already expanding before this latest report.

Earlier this month, Anthropic announced a partnership with Google and Broadcom to access multiple gigawatts of TPU-based computing capacity starting in 2027. A later Broadcom securities filing reportedly placed that figure at 3.5 gigawatts.

The new arrangement would further expand that partnership, with Google Cloud expected to provide an additional 5 gigawatts of capacity over the next five years, with room to scale further.

Valuation and IPO interest rise

Anthropic’s valuation was reported at $350 billion as recently as February. Since then, investor interest has grown sharply, with some backers reportedly willing to support the company at $800 billion or more, according to Bloomberg.

The company is also said to be considering an IPO as soon as October.

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