How Anthropic Clinched $517 Billion in Compute Deals in 11 Months

Anthropic has entered agreements covering at least 14.8 GW of potential compute capacity since October, plus 1–2 GW secured earlier. The Information estimates announced commitments could cost up to $517B, mostly over the next decade, though Anthropic has not disclosed total capacity or spending. The deals support demand for Claude Code and Cowork as Anthropic considers a possible IPO. Amazon and Google account for 11 GW costing more than $300B over roughly 10 years; Microsoft at least $30B for ~1 GW of Azure/Nvidia capacity; SpaceX up to $1.25B monthly through May 2029 (potentially $45B), cancelable by either party with 90 days’ notice; Lambda and Nscale $80B for at least 460 MW over six years; Fluidstack $50B; TeraWulf eventual 401 MW; plus multiple GW of Google TPUs and 2 GW of AMD chips. Anthropic annualized revenue reportedly exceeded $65B; OpenAI’s exceeded $40B in July. Capacity may never fully come online given permitting, grid, components and municipal constraints.