This article first appeared on GuruFocus.

Microsoft (MSFT, Financials) and Nvidia (NVDA, Financials) said they plan to invest in Anthropic under a new partnership that includes a $30 billion commitment by the AI developer to use Microsoft’s Azure cloud services. A person familiar with the matter said both companies will participate in Anthropic’s next funding round, though terms were not disclosed.

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Nvidia plans to commit up to $10 billion and Microsoft up to $5 billion. The companies said the collaboration will expand compute capacity for Anthropic’s Claude models and strengthen joint go-to-market efforts. Microsoft CEO Satya Nadella said both firms expect to be customers of one another’s technologies, adding that OpenAI remains a critical partner.

The agreement underscores the heavy computing demands of training frontier AI models and reflects efforts by major cloud and semiconductor providers to diversify partnerships beyond OpenAI. Analysts said the deal reduces dependence on a single model developer as competition among AI companies intensifies.

Anthropic has been expanding quickly since its launch in 2021, driven by strong enterprise adoption of the Claude platform. The company was recently valued at $183 billion and is forecasting annualized revenue growth that could approach $26 billion next year. It now serves more than 300,000 business customers.

Under the new arrangement, Anthropic will work with Nvidia to develop chips and model-optimization tools and will reserve up to 1 gigawatt of compute using Nvidia’s Grace Blackwell and Vera Rubin hardware. Industry estimates put the cost of 1 gigawatt of AI computing at $20 billion to $25 billion.