Anthropic Locks In $35 Billion in AI Computing. Nvidia Backs the Massive Cloud Expansion.

Anthropic has signed a $35 billion cloud-computing agreement with Nvidia-backed Lambda, another massive infrastructure commitment as the maker of Claude races to secure enough computing power to compete at the frontier of artificial intelligence.

The deal centers on a data center under development in Nueces County, Texas, and places Nvidia in an unusually prominent role across several layers of the transaction, according to an exclusive report from The Wall Street Journal. Nvidia will provide the chips powering the facility while also holding the lease on the underlying data center.

Lambda, an AI cloud provider in which Nvidia is an investor, will provide the computing capacity to Anthropic. The Texas project is being developed by Hut 8, a company that expanded from cryptocurrency mining into high-performance computing and AI infrastructure. Reuters independently confirmed the $35 billion agreement, citing a person familiar with the transaction. The project represents roughly 350 megawatts of capacity.

Nvidia launched a financing model earlier this year designed to help AI cloud companies acquire its infrastructure. Under the program, the company can provide credit support while receiving both revenue from hardware sales and a share of revenue generated by cloud capacity. The company said the structure was intended to make it easier for emerging AI providers to finance expensive data centers and computing systems.

That strategy has attracted growing attention from investors because Nvidia can appear on several sides of the same AI infrastructure transaction. The Anthropic agreement illustrates those increasingly interconnected relationships. Anthropic is backed by Nvidia, Lambda is backed by Nvidia, the computing infrastructure will use Nvidia hardware, and Nvidia will hold the Texas data-center lease.

The structure comes as Nvidia's financial involvement in AI infrastructure continues to expand. The Wall Street Journal reported last week that the chipmaker had paused some revenue-sharing arrangements with AI cloud companies after employees raised concerns about potential regulatory scrutiny. Nvidia disclosed $36 billion in commitments under agreements that typically run for six years, according to the Journal.

For Anthropic, however, the Lambda agreement is part of a much broader effort to diversify the enormous amount of computing infrastructure required to train and operate Claude. The company already relies on Amazon's Trainium chips, Google's TPUs and Nvidia GPUs.

In April, Anthropic announced an expanded agreement with Google and Broadcom for multiple gigawatts of next-generation TPU capacity beginning in 2027. At the time, Anthropic said its annualized revenue had surpassed $30 billion, up from about $9 billion at the end of 2025.

Anthropic has also disclosed agreements for up to 5 gigawatts of capacity with Amazon, $30 billion of Azure capacity through a partnership with Microsoft and Nvidia, more than 300 megawatts from SpaceX, and a $50 billion U.S. infrastructure initiative with Fluidstack.