Report: Google Plans to Increase Investment in Anthropic, Valuing the Latter at Over $350 Billion

```

In the fierce competition in the field of artificial intelligence, tech giants are accelerating their alignment, and Google appears ready to double down again. According to insiders quoted by the media, Google is in early talks to increase its investment in AI startup Anthropic, a potential deal that could push the latter’s valuation above $350 billion, further intensifying the competitive landscape with Microsoft-backed OpenAI.

According to media reports, this potential new investment is still under negotiation and its form is yet to be determined. Possible options include a strategic investment by Google to provide Anthropic with more cloud computing services, convertible notes, or a priced financing round early next year.

This round of negotiations highlights the increasingly clear division of camps in the AI field. Amazon and Google have become key supporters of Anthropic, while Microsoft and Nvidia have invested billions of dollars in its main competitor, OpenAI. If Google finalizes this round of investment, it will further consolidate its core position in the Anthropic camp and send a clear signal to the market: it is determined to secure an advantageous position in this technology race that will define the future.

Previously, Google had already invested over $3 billion in Anthropic, holding about a 14% stake. Anthropic raised $13 billion in a financing round in September this year, with a valuation of $138 billion. The newly rumored valuation target means that Anthropic’s market value is expected to more than double in less than half a year. 

AI giants taking sides, cloud computing becomes the key battleground

Google’s intention to ramp up its investment is also closely related to its strategic layout in cloud computing. In October this year, Google and Anthropic announced a cloud computing deal worth tens of billions of dollars, allowing the latter to use up to one million Google-developed TPU chips. This deal not only provides Anthropic with powerful computing support, but also secures key AI clients for Google Cloud.

However, Anthropic’s partnerships are not exclusive. Amazon has also invested $14 billion in Anthropic, which also uses AWS’s custom chips (Trainium2) to build and deploy its AI models. Last month, Anthropic stated that it remains “committed to working with our primary training partner and cloud provider Amazon.” This strategy of deploying across multiple cloud platforms reflects both the flexibility and complexity of leading AI companies in acquiring massive computational resources.

Anthropic’s financial trajectory: high growth expectations and capital efficiency

Anthropic recently raised its revenue forecast substantially, expecting to reach $70 billion by 2028, which is more than 182 times last year’s revenue. Based on this growth trajectory, its target valuation may reach $300-400 billion.

Compared to OpenAI, Anthropic has an advantage in capital efficiency. Although OpenAI is expected to generate $13 billion in revenue this year, its cash burn is expected to be more than three times that of Anthropic. By 2027, OpenAI is expected to burn through $35 billion in cash, while Anthropic is expected to achieve $3 billion in free cash flow and generate up to $17 billion in cash by 2028, indicating that its enterprise customer-oriented model may yield higher efficiency.

The company focuses on enterprise API sales, which are expected to contribute more than 80% of its revenue by 2028. Its programming assistant, Claude Code, has annualized revenue approaching $1 billion, pushing the company’s overall annualized revenue last month to nearly $7 billion.

Risk Warning and DisclaimerThe market carries risks, and investments should be made cautiously. This article does not constitute personal investment advice, nor does it take into account the specific investment objectives, financial situation, or needs of any individual user. Users should consider whether any opinions, views, or conclusions expressed herein are appropriate for their particular circumstances. Investments made based on this article are at your own risk. ```