Texas data center agreement

Anthropic has agreed to a $35 billion cloud computing contract with Lambda to secure processing power for its artificial intelligence systems. The six-year agreement covers access to a data center facility under construction in Nueces County, Texas. Infrastructure firm Hut 8, a former bitcoin mining enterprise, is developing the site with an estimated power capacity of roughly 350 megawatts. Lambda will deploy Nvidia hardware across the site to support Anthropic's operations, while Nvidia holds the lease for the facility. The agreement provides compute capacity for the Claude model family and developer tools including Claude Code, which assists software engineers with writing and editing code. Neither Anthropic nor Lambda has officially published the terms of the private transaction.

Multi-billion infrastructure expansion

The Lambda commitment follows several large compute agreements finalized by the San Francisco-based developer in recent months. Anthropic recently agreed to a six-year, $45 billion contract with British provider Nscale for 460 megawatts of capacity at a campus in West Virginia, utilizing Nvidia Vera Rubin systems. Additional cloud computing contracts include a $50 billion agreement with Fluidstack, a $45 billion arrangement with SpaceX, a $10 billion deal with a week-old cloud startup, and a $9.1 billion 20-year commitment with bitcoin miner Riot Platforms. Amazon has separately indicated that Anthropic will spend more than $100 billion on AWS over the next decade for five gigawatts of capacity and Trainium3 silicon, alongside a separate hardware package involving Google and Broadcom. Together, Anthropic's disclosed infrastructure commitments exceed $130 billion as the company contracts with specialized neocloud providers focused on high-density graphics processing unit clusters.

Fluidstack50

Nscale45

SpaceX45

Lambda35

Riot Platforms9.1

Fluidstack

50 $B

Nscale

45 $B

SpaceX

45 $B

Lambda

35 $B

Riot Platforms

9.1 $B

Data from the article text

Financial growth and market valuation

The rapid buildout of processing capacity occurs as Anthropic experiences steep commercial expansion ahead of a planned autumn initial public offering. The company increased its annualized revenue run rate to more than $65 billion by late July 2026, rising from $47 billion in May 2026 and roughly $9 billion at the close of 2025. Anthropic projects its annual revenue will reach between $190 billion and $200 billion by 2028. A private funding round in May 2026 valued the company at $965 billion, more than double its $380 billion valuation recorded in February 2026. The surge in computing demand follows disclosures in April 2026 that high traffic had forced Anthropic to degrade service levels during peak operational hours to manage server load.

Hardware supply and financing structures

The transaction reflects Nvidia's central position across computing hardware, facility leasing, and customer capital. In the Texas arrangement, Nvidia acts as an investor in Lambda, maintains a direct arrangement with site developer Hut 8, and supplies the processing units deployed in the facility. On 10 August 2026, Nvidia chief executive Jensen Huang formed an alliance with six North American financial institutions seeking to assemble more than $500 billion to finance computing infrastructure purchases. Nvidia also introduced a customer revenue-sharing initiative in July 2026, which was paused in late August due to internal antitrust reviews. Anthropic continues to explore further capacity options, including early discussions to lease $10 billion in computing power from Meta.