The Information reports that Anthropic has signed compute contracts worth up to $517 billion in total over the past eleven months. Counting from October 2025, these contracts lock in at least 14.8 GW of computing capacity, up from roughly 1 to 2 GW the company held before. The Decoder relayed the report on September 7, adding that Anthropic is also preparing to build its own data centers.
The scale doesn't match what the company was saying nine months ago. In December 2025, Anthropic showed investors a server lease budget of about $180 billion through 2029. Going by the contract total in the report, what the company has actually signed comes to nearly three times that budget.
A year of major deals
The $517 billion didn't come together in one sitting. In November 2025, the company signed a deal to lease 1 GW of Microsoft Azure servers, worth $30 billion. Its contracts with Amazon and Google together cover 11 GW over ten years, valued by the report at more than $300 billion. In May 2026, Anthropic signed a compute deal with SpaceX worth up to $45 billion, corresponding to the previously disclosed 220,000 GPUs and more than 300 megawatts of power. In July, it locked in a deployment of up to 2 GW of AMD MI450 chips, along with an investment of up to $5 billion.
Line up these dates and the pivot point falls after October 2025. Before that, the bulk of Anthropic's compute sat with Amazon alone; over the year that followed, Microsoft, Google, SpaceX and AMD came in one after another, turning a single supplier into a string of them. The price of that was locking a decade's worth of spending into today's contracts.
The report also mentions something else: Anthropic building its own data centers. Leasing is fast, but the long-term unit price and exclusivity terms stay in the other side's hands; building in-house shifts the capital spending onto Anthropic itself in exchange for control over site selection, power supply and depreciation schedules. A commitment of 14.8 GW already exceeds the dispatchable margin of a single national grid in more than a few countries — power agreements and grid-connection timelines tend to be harder to arrange than chip deliveries.
Numbers with no audit behind them
No audited disclosure backs up the $517 billion total. The Information's method was to add up signed contracts at their upper limit, without breaking out how much is committed procurement, how much is conditional, or how much carries an exit clause. Anthropic did not respond to the report, and the company does not publish contract details.
The revenue side is also reporting-only. Anthropic's annualized revenue has been put at $65 billion, versus OpenAI's July figure of $40 billion. Both companies are private, neither publishes audited financial statements, and both numbers should be read only as a rough order of magnitude.
What was said versus what was signed
Dario Amodei has previously given his public assessment of how his peers are approaching this round of spending:
"don't really understand the risks they're taking"
Around the same time, Sam Altman called the spending race on compute infrastructure "unsustainable silliness," while OpenAI's own stated target for 2030 is 30 GW. The wording each side uses in public and the deals each side is signing point in different directions.
For outside observers, the next document that could reconcile the two is a prospectus. Anthropic has already filed a confidential S-1, and if the IPO advances to the point of public disclosure, the terms, payment schedules and exit clauses behind these compute commitments will land in public filings as contract language. Until then, $517 billion remains a figure aggregated from reporting.
Sources: The Information, The Decoder, CocoLoop, Data Center Dynamics; the $517 billion / 14.8 GW figures, the $180 billion server-lease budget, and the separate $30 billion Microsoft and $45 billion SpaceX contract amounts have all been checked against the figures as reported.