🧠 Food for thought

Implications, context, and why it matters.

Anthropic’s Google deal fits a broader multi-cloud plan

• Even with the Google commitment, Anthropic says Amazon is still its main cloud provider and training partner 1.
• Anthropic spreads Claude across Google’s Tensor Processing Units (TPUs), Amazon’s Trainium AI chips, and NVIDIA’s graphics processing units (GPUs) so each workload runs on the hardware that fits best 1.
• Its need for computing power is climbing with the business. Run-rate revenue rose from about US$9 billion at the end of 2025 to more than US$30 billion in 2026 1.

The deal adds to the race for future AI revenue

• Large cloud companies such as Microsoft, Amazon, Google and Oracle plan to spend more than US$320 billion on capital expenditure in fiscal 2025 2.
• That spending is tied to huge piles of future business. Microsoft has US$627 billion in commercial remaining performance obligations (RPO), which tracks contracted revenue not yet recognized, while Alphabet lists a backlog of about US$462 billion 3, 4.
• The result is a steep barrier to entry. Only the biggest companies can fund the systems AI firms need, which ties many of them to long contracts. One market-research firm expects the market to reach US$947.46 billion by 2035 2.