Anthropic, the company behind the Claude AI models, has secured contracts worth up to $517 billion in cloud, chip, and data center commitments over the next decade. The bulk of these deals have been struck since October 2025, representing a dramatic escalation from Anthropic’s previously projected $180 billion in server leasing commitments through 2029. The company has added a minimum of 14.8 gigawatts of computing capacity to an infrastructure base that previously sat at just 1 to 2 GW.
Where the money is going
The biggest slice of the pie belongs to Amazon and Google, who are supplying 11 GW of capacity in a deal valued at over $300 billion. Microsoft Azure picked up a $30 billion contract for 1 GW. Then there’s the SpaceX deal, valued at approximately $45 billion. Lambda and nScale together account for $80 billion in contracts covering 460 megawatts over six years. Fluidstack rounds out the headline partnerships with a $50 billion commitment for data centers in Texas and New York.
The energy demand from all of these commitments is comparable to more than ten advanced nuclear reactors.
Revenue surge and IPO positioning
Anthropic’s annualized revenue run rate has climbed to approximately $65 billion. The company is widely expected to pursue a public offering. Rival OpenAI has publicly set its sights on securing $750 billion and 30 GW of capacity by 2030. Anthropic’s 14.8 GW addition puts it in the same conversation, though still trailing OpenAI’s stated ambitions.
What this means for the broader market
Memory and foundry suppliers like Samsung and SK hynix stand to benefit directly from the surge in demand for high-performance computing hardware. Amazon and Google have effectively locked in a decade of revenue from a single customer. Microsoft added a $30 billion line item.