Google to invest up to $40B in Anthropic — its own Gemini competitor

Bloomberg reports Google will invest up to $40 billion in Anthropic, including $10 billion now at a $350 billion valuation, with the rest tied to compute commitments. The deal is unusual because Google's Gemini directly competes with Claude, yet Alphabet is now Anthropic's largest backer alongside ongoing AWS investment. The move was announced alongside Cloud Next.