Partnerships
Partnership decisions that moved the needle — or did not. Real deals, real terms, real outcomes.
From the curated library
Ask the Directory -- Sign up to accessAnthropic: Deepening compute partnerships with Google and Broadcom (2026)
Anthropic has made a strategic decision to expand its existing partnerships with Google and Broadcom, specifically focusing on next-generation compute infrastructure. This move is crucial for a leading AI company that relies heavily on advanced computational power to train and deploy its large language models, ensuring access to cutting-edge hardware and cloud resources to maintain its competitive edge and accelerate development.
The AI industry is in an intense arms race for compute power. Access to specialized hardware (like TPUs and custom AI chips) and large-scale cloud infrastructure is a key differentiator, …
Anthropic: Expands compute partnership with Google & Broadcom (2026)
Anthropic, a leading AI research company, decided to significantly expand its strategic partnership with Google and Broadcom to secure next-generation compute resources. This decision is crucial for its ability to train larger, more advanced AI models and stay competitive with rivals like OpenAI, ensuring access to cutting-edge hardware and engineering expertise, and potentially influencing future AI chip development.
The race to build more powerful AI models is intensifying, with compute power being a major bottleneck and competitive differentiator. Securing advanced compute resources through strategic partnerships is paramount for …
OpenAI: Integrate ChatGPT with Apple CarPlay (2026)
OpenAI made the strategic decision to integrate its flagship AI model, ChatGPT, directly into Apple CarPlay. This move expands ChatGPT's reach to a massive new user base within vehicles, providing hands-free access to its generative AI capabilities for navigation, communication, and information retrieval, solidifying its position as a ubiquitous AI assistant.
As AI becomes increasingly integrated into daily life, companies are vying to place their AI models at every touchpoint. Integrating with Apple CarPlay provides OpenAI with a direct channel to …
Adobe & Figma: Abandoning the $20 billion merger (2023)
Adobe's decision to acquire Figma for $20 billion, and Figma's choice to sell, was a landmark deal in the creative software space. However, faced with significant opposition and intent to block from antitrust regulators in the UK and EU, both companies had to decide whether to enter a costly and protracted legal battle or mutually terminate the agreement. They opted to walk away, with Adobe paying a substantial termination fee.
Increased antitrust scrutiny on large tech acquisitions globally, combined with significant market overlap and competitive concerns raised by regulators, made the path to approval incredibly difficult. The decision to abandon …
Adobe paid Figma a $1 billion termination fee and lost the opportunity to integrate Figma's rapidly growing user base and technology. Figma remains an independent company, now positioned as a major standalone competitor, but missed out on the immediate $20 billion payout. The outcome highlights the increasing global regulatory scrutiny on large tech mergers and the challenges of market consolidation.
Klarna: Strategic Partnership with PayPal's Braintree (2024)
Klarna chose to integrate its payment services with PayPal's Braintree platform, allowing Braintree merchants to offer Klarna's 'Pay Now' and 'Pay Later' options. This was a strategic move to significantly expand Klarna's merchant reach and transaction volume, contrasting with a potential go-it-alone approach or pursuing smaller, individual integrations, thereby putting its market share at stake.
The BNPL market is consolidating and facing increased regulatory scrutiny. Klarna sought a way to rapidly scale its merchant network and customer reach beyond direct sales efforts, leveraging an established …
Perplexity: Launch revenue sharing with publishers to settle content disputes (2026)
After multiple lawsuits from publishers over content use, Perplexity launched a revenue-sharing programme — paying publishers a percentage of subscription and ad revenue when their content was cited in answers. A strategic pivot from 'move fast' to sustainable content economics.
The New York Times, Forbes, and Condé Nast had sued Perplexity for scraping and reproducing content without permission. Google's AI Overviews faced similar backlash. The existential risk for AI search …
Major publishers including Condé Nast, Forbes, and Bloomberg signed revenue-sharing agreements. Lawsuits were settled or dropped. The programme legitimised AI search as a channel rather than a threat, and Perplexity's content quality improved with publisher cooperation.
Google: Acquire Wiz for $32B — largest cybersecurity deal ever (2026)
Google completed its $32B acquisition of cloud security startup Wiz, the largest deal in cybersecurity history. Wiz had reached $500M ARR faster than any enterprise software company ever, and the acquisition gave Google Cloud an instant security moat.
AWS had a dominant cloud market share (~32%) and Azure had Microsoft's enterprise relationships. Google Cloud was third and needed a differentiator beyond price. Cybersecurity was the #1 concern for …
The acquisition gave Google Cloud a compelling security narrative against AWS and Azure. Wiz's agentless scanning technology was integrated into GCP within months, and enterprise customers cited security as the primary reason for choosing Google Cloud over competitors.
Google: Acquire Wiz for $32B — largest ever cybersecurity deal (2025)
Google completed its $32B acquisition of cloud security startup Wiz after an initial $23B offer was rejected in 2024. The deal was Google Cloud's biggest bet on becoming the enterprise security platform, directly challenging Microsoft and CrowdStrike.
Google Cloud was third behind AWS and Azure in market share despite superior technology. Enterprise buyers chose AWS for breadth and Azure for Microsoft integration. Google lacked a 'must-have' enterprise …
The acquisition gave Google Cloud a market-leading cloud security product with $500M+ ARR and rapid growth. It strengthened Google Cloud's enterprise positioning and provided a wedge into security-conscious enterprises that had defaulted to Azure or AWS.
Microsoft: $10B investment in OpenAI for exclusive cloud and model access (2023)
Microsoft invested $10B in OpenAI, securing exclusive cloud hosting (Azure) and rights to integrate GPT models across Microsoft products — Office, Bing, GitHub, Azure. The largest single bet in the AI race.
Google had dominated AI research for a decade (Transformers paper, DeepMind, TPUs) but hadn't shipped consumer AI products. Microsoft had missed mobile, lost search to Google, and watched Azure trail …
Microsoft Copilot launched across Office 365, GitHub, and Azure. Azure's AI services became the fastest-growing segment. GitHub Copilot reached 1.8M paid subscribers. Bing briefly gained search share. Microsoft's market cap grew from $1.8T to $3T+, driven largely by the AI narrative.
Spotify: Expand into podcasts via $1B+ acquisitions (2019-2021)
Spotify acquired Gimlet Media ($230M), Anchor ($140M), and signed Joe Rogan ($200M exclusive). The strategy was to own exclusive audio content to differentiate from Apple Music and reduce dependence on major music labels.
Spotify's music margins were structurally capped — labels took 70% of streaming revenue, leaving Spotify with razor-thin margins regardless of scale. Podcasts had no such royalty structure — they were …
Podcast investments exceeded $1B but profitability has been elusive. Exclusive deals (Joe Rogan) drove some growth but Spotify reversed course on exclusivity in 2023. Major write-downs on Gimlet and podcast-related layoffs followed. Strategy shifted to open podcast distribution.
Salesforce: Acquire Slack for $27.7B (2021)
Salesforce acquired Slack to compete with Microsoft Teams and own the enterprise collaboration layer. The price was a 55% premium. Critics argued Slack was losing the messaging war to Teams (bundled free with Office 365).
COVID had made remote work permanent and enterprise collaboration tools were the hottest category in tech. Microsoft Teams had gone from 20M to 145M DAU in a single year by …
The acquisition has underperformed expectations. Slack's growth slowed as Teams continued to dominate (300M+ MAU vs Slack's 30M+). Integration with Salesforce has been slow. The premium paid is widely seen as excessive, and Salesforce's stock dropped significantly post-acquisition.