Anthropic Locks In Hundreds of Billions in Google and Broadcom Compute

This article first appeared on GuruFocus.

Anthropic committed to "multiple gigawatts" of computing capacity from Google Cloud, a unit of Alphabet (GOOGL), including approximately 3.5 gigawatts to be delivered via a new agreement with Broadcom (NASDAQ:AVGO), starting in 2027.

Total new capacity across the agreements could reach close to 5 gigawatts, according to a person with knowledge of the terms. At an estimated $35 billion to $50 billion per gigawatt of infrastructure, the commitment could run to hundreds of billions of dollars. Broadcom shares rose 3.58% in premarket while Alphabet rose 1.32%. The chipmaker separately agreed to develop and supply future generations of Google's tensor processing units through 2031.

Anthropic said its annualised revenue reached $30 billion at the end of March, up from approximately $9 billion at the end of 2025, a more than threefold increase in roughly three months. The number of enterprise customers each spending over $1 million annually has more than doubled to over 1,000 since February. "We are building the capacity necessary to serve the exponential growth we have seen in our customer base," said Krishna Rao, Anthropic's chief financial officer, in a company blog post.

The commitment extends a series of infrastructure deals Anthropic has struck since late 2025, including a $50 billion data centre agreement with Fluidstack and $30 billion in capacity from Microsoft (NASDAQ:MSFT) and Nvidia (NASDAQ:NVDA).