This article first appeared on GuruFocus.
Anthropics latest update reads less like incremental progress and more like a sharp step-function in demand, with the company now reporting a $30 billion revenue run rate, up from $9 billion at the end of 2025. The acceleration appears tied to enterprise adoption of its Claude services, where more than 1,000 customers are now spending over $1 million annually, a figure that has more than doubled since February. The trajectory suggests AI workloads are moving deeper into enterprise budgets, even as the company continues to navigate a dispute with the US government that it has said could potentially impact revenue.
To support that surge, Anthropic is expanding its collaboration with Broadcom (NASDAQ:AVGO) and Google (NASDAQ:GOOG), building out the infrastructure required to handle rising demand. The partnership, first outlined last month, includes plans to access roughly 3.5 gigawatts of compute capacity starting in 2027, contingent on Anthropics continued commercial momentum. Broadcom is developing chips based on Googles tensor processing units, offering an alternative to Nvidias architecture, while also entering a long-term supply agreement with Google that extends through 2031. The setup could position Broadcom more directly in the AI silicon conversation as hyperscale demand continues to broaden.
Investor reaction appears to reflect that potential shift, with Broadcom shares rising as much as 3.6% in late trading following the filing. Management has previously indicated that AI chip revenue could exceed $100 billion next year, reinforcing expectations that custom silicon tied to large-scale AI deployments may become a central growth driver. Still, the scale of Anthropics future compute consumption remains linked to its ability to sustain commercial traction, leaving both execution and regulatory developments as variables that could shape the trajectory from here.
