• Alphabet stock is challenging resistance. Why did GOOGL hit a new high?
The move suggests investors are reading the deal as a major validation point for Alphabet’s cloud and AI infrastructure strategy, particularly as Anthropic’s commitment reportedly includes spending tied to Google’s cloud services and chips.
According to the report, Anthropic may account for more than 40% of the revenue backlog Google disclosed to investors last week, highlighting the scale of AI-related cloud demand already contracted at Alphabet.
According to Reuters, the report also said Anthropic and OpenAI contracts now represent more than half of the $2 trillion in backlogs at major cloud providers, underscoring how aggressively leading AI labs are locking up compute capacity.
Reuters noted it could not immediately verify the report, and Anthropic and Google did not respond to requests for comment.
GOOGL Price Action: Alphabet stock was up 1.35% during regular trading and up 1.40% in after-hours trading on Tuesday, last trading at $393.86. The stock is trading at a new 52-week high, according to Benzinga Pro data.
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