Anthropic, HUMAIN Deepen Big Tech AI Ties

Anthropic expects to pay Amazon, Google and Microsoft at least $80 billion for cloud services to run its Claude AI models through 2029, according to forecasts reported by The Information and cited Wednesday. These payments cover the cost of operating Anthropic’s systems on the tech giants’ infrastructure over several years.

The same analysis indicates the cloud companies are positioned to benefit in a second way: they earn a cut when their own customers buy Anthropic’s AI offerings. This revenue-sharing channel is described as a fast‑growing stream layered on top of direct infrastructure spending.

Anthropic disclosed that cloud partners received roughly $1.3 million in 2024 as their share of its AI sales. That figure is forecast to rise sharply to about $360 million in 2025, $1.9 billion in 2026 and $6.4 billion in 2027, based on the company’s projections and past payments examined by The Information.

These revenue‑sharing payouts are expected to represent around one‑tenth of Anthropic’s overall projected revenue in those years, according to the company’s prior financial disclosures. Sources familiar with its finances told The Information that roughly half of Anthropic’s gross profits from selling AI via Amazon have gone back to Amazon once infrastructure costs are included.

Anthropic’s cloud and revenue‑sharing commitments come as the company reports large increases in private funding and valuation. Days before the new cloud forecasts emerged, Anthropic said it had raised $30 billion in a Series G round, valuing the company at $380 billion.

That valuation is more than double the $183 billion level reached when Anthropic raised $13 billion five months earlier. In announcing the deal, the company attributed strong investor interest in part to its performance in enterprise AI and coding workloads.

Chief Financial Officer Krishna Rao said customer feedback indicates that Claude is becoming critical to how businesses operate. He added that the latest fundraising will support continued frontier research, product development and expanded infrastructure to meet growing enterprise demand.

HUMAIN, a portfolio company of Saudi Arabia’s Public Investment Fund focused on integrated AI solutions, invested $3 billion in xAI Corp. as part of a Series E funding round. Following the round, HUMAIN becomes a significant minority shareholder in xAI.

The stake was subsequently converted into SpaceX shares, laying what HUMAIN described as groundwork for long‑term capital returns ahead of a planned merger between xAI and SpaceX. The transaction is characterized by HUMAIN as a comprehensive capital investment aligned with its strategy of backing leading global technology platforms.

HUMAIN said combining xAI’s advanced AI capabilities with SpaceX’s scale, infrastructure and engineering approach creates a platform intended to accelerate growth and deepen technological integration. The company highlighted its role as a long‑term strategic investor able to support portfolio companies across multiple growth stages.

HUMAIN also emphasized its broader AI ecosystem ambitions, citing four pillars: next‑generation data centers, high‑performance infrastructure and cloud platforms, advanced AI models, and transformative AI solutions. It said it continues to explore additional investments in artificial intelligence, advanced technologies and digital infrastructure.

Palo Alto Networks reported stronger‑than‑expected fiscal second‑quarter results and raised its full‑year 2026 outlook, citing accelerating demand for AI‑driven cybersecurity and identity protection. It now expects 2026 revenue between $11.28 billion and $11.31 billion, with next‑generation security annual recurring revenue projected at $8.52 billion to $8.62 billion.

Annual revenue rose 15% to $2.59 billion in the latest quarter, while next‑generation security ARR increased 33% to $6.33 billion. CEO Nikesh Arora said major organizations are embedding AI into core operations, requiring real‑time security controls across network, cloud, endpoint and identity systems.

The company highlighted 40% growth in SASE ARR to $1.5 billion and 25% growth in software firewall ARR. Prisma AIRS, its AI security service, quadrupled its customer base during the quarter. Recent acquisitions of CyberArk and Chronosphere are reflected in guidance and are intended to enhance identity security and observability while maintaining operating discipline.

Palo Alto Networks forecasts third‑quarter sales of $2.94 billion to $2.95 billion and non‑GAAP EPS of $0.78 to $0.80. Longer term, it is targeting $20 billion in next‑generation security ARR by 2030 and a 40% free cash flow margin by fiscal 2028, underscoring expectations for continued AI‑linked security spending.