Anthropic ‘signs $35bn cloud deal’ with Nvidia-backed AI company

Anthropic has signed a data centre deal worth $35 billion with the Nvidia-backed cloud compute provider Lambda, Reuters has reported.

The deal pertains to a data centre being built in Nueces County, Texas by Hut 8, one of several firms to pivot from crypto mining to cloud computing in recent years. The facility will have a capacity of around 350 megawatts, a source told the newswire, speaking on condition of anonymity as the information shared is not public.

This is one of several major AI compute deals Anthropic has signed in recent weeks as it prepares to go public in an initial public offering that some investors believe could value the company at $2 trillion.

Last week, Reuters reported that the company was set to spend $45 billion to rent AI cloud compute from AI infrastructure provider Nscale in an effort to meet what it expects will be increased demand for its products such as flagship coding tool Claude Code.

The deal with Lambda will provide capacity from Nvidia as part of Anthropic’s efforts to meet this demand, the source told Reuters.

The Wall Street Journal, which first reported the news, said that Nvidia itself would hold the lease on the data centre.

This is the second major collaboration between Hut 8 and Nvidia this year. In July, the chipmaker agreed to a 15-year lease with a base-term contract value of $19.6 billion for Hut 8’s 1 gigawatt Beacon Point campus.

Nvidia, which is both a major investor in AI compute buildout and a major producer of the chips required to develop it, has previously been accused by some experts of engaging in ‘circular financing’ where money is moved without necessarily creating corresponding value.