Anthropic committed approximately $200 billion to Google’s cloud services and AI chips. The spending agreement spans a five-year period. This deal makes Anthropic one of the largest buyers of computing capacity in history. The startup now accounts for more than 40% of Google's recently disclosed revenue backlog. Alphabet shares rose approximately 2% in extended trading following the reports.
Google, Amazon, and Microsoft hold a combined revenue backlog of nearly $2 trillion. Contracts from Anthropic and OpenAI account for approximately half of that total. Alphabet has separately committed up to $40 billion in investment to Anthropic. The agreement underscores the intense capital concentration currently defining the AI infrastructure market.