Alphabet shares rose 2% in after‑hours trading after report of a $200 billion five‑year Anthropic cloud spend.
The deal, starting 2027, represents over 40% of Google’s cloud revenue backlog and includes 5 GW of server capacity.
Anthropic is expected to spend >$20 billion on servers this year, triple last year, while OpenAI’s spend rises to $45 billion, mainly with Microsoft.
The backlog growth underscores cloud providers’ reliance on AI firms for future revenue.